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Following its Q4/23 earnings release, Charter crashed 16%. Most media quickly put the blame on a net subscriber loss in the broadband space. I believe the main reasons for the sell-off were only loosely related to the earnings materials.
Charter Communications missed on earnings this morning. Profits of only $7.07 per share came in nearly 20% below Wall Street forecasts.
Charter's (CHTR) fourth-quarter 2023 results reflect continued growth in Internet and mobile service revenues.
Charter Communications, Inc. (CHTR) Q4 2023 Earnings Call Transcript
The headline numbers for Charter (CHTR) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
The company says it lost 61,000 internet customers in the fourth quarter.
Shares in Charter Communications dropped 13% Friday morning after the company reported disappointing fourth-quarter earnings and a surprising loss of broadband subscribers. Charter said it lost 61,000 internet customers in the quarter ending December 31, compared with Wall Street analysts' expectation for a slight gain. The stock was at $336.24 on heavier-than-normal trading volume.
Charter Communications (CHTR) came out with quarterly earnings of $7.07 per share, missing the Zacks Consensus Estimate of $8.93 per share. This compares to earnings of $7.69 per share a year ago.
Besides Wall Street's top -and-bottom-line estimates for Charter (CHTR), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2023.
Charter Communications' (CHTR) fourth-quarter 2023 performance is likely to have benefited from its expanding broadband network, despite stiff competition and slow subscriber addition.