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6:24 PM ยท 26 July 2024

Charter Communications gains 17% after Q2 results ๐Ÿ“ˆ

Charter Communications (CHTR.US) stock is up nearly 17% in today's session after the company reported second-quarter results that exceeded analysts' expectations, with free cash flow being a particularly positive surprise in the report. Moreover, Charter's loss of broadband internet subscribers in the second quarter was significantly lower than the consensus of 230,000 (actual loss was 149,000), suggesting that the end of the Affordable Connectivity program had a more controlled impact than previously feared.

Q2 Results

  • Revenue: $13.69 billion, estimated $13.58 billion
  • EPS: $8.49 compared to $8.05 year-over-year, estimated $7.94
  • Individual customers: 29.62 million, estimated 29.52 million
  • Change in net number of video service customers for households: -393,000, estimated -345,034
  • Change in net number of internet service customers for households: -149,000, estimated -230,158
  • Change in net number of voice service customers for households: -268,000, estimated -263,935
  • Change in net number of mobile lines: +557,000, estimated +527,484
  • Free cash flow: $1.30 billion, estimated $463 million
  • Adjusted EBITDA: $5.67 billion, estimated $5.49 billion
  • Adjusted EBITDA margin: 41.4%, estimated 40.4%
  • Capital expenditures: $2.85 billion, estimated $3.07 billion

The company has erased a large part of the losses observed since the beginning of 2024 after the Q2 data readout.

Source: xStation

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