The 10-second takeaway
For the quarter ended June 30 (Q2), Charter Communications met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share dropped.
Gross margins dropped, operating margins contracted, and net margins improved.
Charter Communications tallied revenue of $1.88 billion. The 10 analysts polled by S&P Capital IQ hoped for revenue of $1.87 billion on the same basis. GAAP reported sales were 5.2% higher than the prior-year quarter's $1.79 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.24. The eight earnings estimates compiled by S&P Capital IQ forecast -$0.41 per share. GAAP EPS were -$0.84 for Q2 against -$0.98 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.9%, 30 basis points worse than the prior-year quarter. Operating margin was 14.3%, 80 basis points worse than the prior-year quarter. Net margin was -4.4%, 160 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.90 billion. On the bottom line, the average EPS estimate is -$0.36.
Next year's average estimate for revenue is $7.52 billion. The average EPS estimate is -$1.92.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Charter Communications is outperform, with an average price target of $72.02.
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