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The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $13.62 billion, indicating a 0.3% decrease from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved down 1.1% to $7.89 per share in the past 30 days, suggesting a decline of 1.99% from the figure reported in the year-ago quarter.
CHTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average negative surprise being 2.39%.
Let’s see how things are shaping up for the upcoming announcement.
Charter Communications, Inc. Price and EPS Surprise
Charter Communications’ strategic investments in network infrastructure and fiber-optic construction, particularly through Spectrum's expanding network, are likely to have contributed to CHTR’s prospects in the to-be-reported quarter.
Continuous enhancements in the company's Spectrum One network have been a major growth driver. In the quarter under review, Charter Spectrum announced the launch of Gigabit Broadband, Mobile, TV and Voice Services in Rural Lincoln County, MO, and Vance County, NC.
In the to-be-reported quarter, Charter Communications announced a multi-year distribution agreement for Paramount Global’s (PARA - Free Report) full portfolio of linear cable networks, CBS owned-and-operated broadcast stations and direct-to-consumer streaming services.
The company has also expanded its partnership with Magnite (MGNI - Free Report) to enhance programmatic ad-buying across Spectrum Reach's extensive library of premium linear and streaming television inventory.
CHTR’s total residential revenues are likely to have reflected a steady momentum in its mobile service segment, partly offset by lower voice and video revenues. A higher mix of non-video customers and growth of lower-priced video packages is expected to have kept the top line under pressure.
The Zacks Consensus Estimate for total residential revenues is pegged at $10.7 billion, indicating a decline of 1.1% year over year. The consensus mark for total residential customer relationships is pegged at 29.6 million, suggesting a decline of 1.3% year over year.
First-quarter total residential and SMB Internet customers decreased 72K. As of Mar 31, 2024, Charter served a total of 30.5 million residential and SMB Internet customers. The momentum is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for mobile lines’ net additions in the second quarter is pegged at 510K.
The top-line growth in the to-be-reported quarter is expected to have been affected by the increasing competition in the cable space and sluggish Internet subscribers’ addition rate.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
CHTR has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stock With the Favorable Combination
Here is a stock worth considering, as our model shows that it has the right combination of elements to beat on earnings this season.
Image: Bigstock
What's in Store for Charter Communications (CHTR) in Q2 Earnings?
Charter Communications (CHTR - Free Report) is set to report second-quarter 2024 results on Jul 26.
The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $13.62 billion, indicating a 0.3% decrease from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved down 1.1% to $7.89 per share in the past 30 days, suggesting a decline of 1.99% from the figure reported in the year-ago quarter.
CHTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average negative surprise being 2.39%.
Let’s see how things are shaping up for the upcoming announcement.
Charter Communications, Inc. Price and EPS Surprise
Charter Communications, Inc. price-eps-surprise | Charter Communications, Inc. Quote
Factors to Consider
Charter Communications’ strategic investments in network infrastructure and fiber-optic construction, particularly through Spectrum's expanding network, are likely to have contributed to CHTR’s prospects in the to-be-reported quarter.
Continuous enhancements in the company's Spectrum One network have been a major growth driver. In the quarter under review, Charter Spectrum announced the launch of Gigabit Broadband, Mobile, TV and Voice Services in Rural Lincoln County, MO, and Vance County, NC.
In the to-be-reported quarter, Charter Communications announced a multi-year distribution agreement for Paramount Global’s (PARA - Free Report) full portfolio of linear cable networks, CBS owned-and-operated broadcast stations and direct-to-consumer streaming services.
The company has also expanded its partnership with Magnite (MGNI - Free Report) to enhance programmatic ad-buying across Spectrum Reach's extensive library of premium linear and streaming television inventory.
CHTR’s total residential revenues are likely to have reflected a steady momentum in its mobile service segment, partly offset by lower voice and video revenues. A higher mix of non-video customers and growth of lower-priced video packages is expected to have kept the top line under pressure.
The Zacks Consensus Estimate for total residential revenues is pegged at $10.7 billion, indicating a decline of 1.1% year over year. The consensus mark for total residential customer relationships is pegged at 29.6 million, suggesting a decline of 1.3% year over year.
First-quarter total residential and SMB Internet customers decreased 72K. As of Mar 31, 2024, Charter served a total of 30.5 million residential and SMB Internet customers. The momentum is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for mobile lines’ net additions in the second quarter is pegged at 510K.
The top-line growth in the to-be-reported quarter is expected to have been affected by the increasing competition in the cable space and sluggish Internet subscribers’ addition rate.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
CHTR has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stock With the Favorable Combination
Here is a stock worth considering, as our model shows that it has the right combination of elements to beat on earnings this season.
Arista Networks (ANET - Free Report) has an Earnings ESP of +0.95% and sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Arista Networks have jumped 45.3% year to date. ANET is set to report second-quarter 2024 results on Jul 30.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.