The 10-second takeaway
For the quarter ended March 31 (Q1), Charter Communications met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew to zero. GAAP loss per share contracted.
Gross margins contracted, operating margins contracted, net margins grew.
Charter Communications logged revenue of $1.92 billion. The 14 analysts polled by S&P Capital IQ predicted a top line of $1.90 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.00. The 16 earnings estimates compiled by S&P Capital IQ averaged -$0.45 per share. Non-GAAP EPS dropped to zero from the prior-year quarter's $0.00. GAAP EPS were -$0.42 for Q1 versus -$0.95 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 54.2%, 120 basis points worse than the prior-year quarter. Operating margin was 11.6%, 120 basis points worse than the prior-year quarter. Net margin was -2.2%, 290 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.96 billion. On the bottom line, the average EPS estimate is -$0.20.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Charter Communications is outperform, with an average price target of $93.80.
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