The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Charter Communications met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP loss per share grew.
Gross margins contracted, operating margins shrank, net margins grew.
Charter Communications notched revenue of $1.88 billion. The 12 analysts polled by S&P Capital IQ anticipated a top line of $1.89 billion on the same basis. GAAP reported sales were 3.9% higher than the prior-year quarter's $1.81 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 -$0.87. The 17 earnings estimates compiled by S&P Capital IQ anticipated -$0.36 per share. GAAP EPS were -$0.87 for Q3 against -$0.78 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 54.4%, 180 basis points worse than the prior-year quarter. Operating margin was 11.2%, 200 basis points worse than the prior-year quarter. Net margin was -4.6%, 10 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.92 billion. On the bottom line, the average EPS estimate is -$0.12.
Next year's average estimate for revenue is $7.53 billion. The average EPS estimate is -$2.06.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Charter Communications is outperform, with an average price target of $81.12.
- Add Charter Communications to My Watchlist.