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Charter Communications' (CHTR) Q4 Earnings Top Estimates
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Charter Communications Inc. (CHTR - Free Report) reported impressive financial results for fourth-quarter 2017, wherein both the top and the bottom line outpaced the Zacks Consensus Estimate.
GAAP net income in the reported quarter was $9,553 million or $34.56 per share compared with net income of $454 million or $1.67 in the year-ago quarter. However, adjusted earnings per share of 86 cents were a penny above the Zacks Consensus Estimate.
Charter Communications, Inc. Price, Consensus and EPS Surprise
Fourth-quarter 2017 total revenues of $10,602 million increased 3.2% year over year surpassing the Zacks Consensus Estimate of approximately $10,583 million.
Residential segment revenues came in at $8,450 million compared with $8,129 million in the year-ago quarter. Within the Residential segment, Video revenues totaled $4,225 million, up 3.1% year over year. Internet revenues came in at $3,638 million, up 9.8% from the prior-year quarter, while Voice revenues were $587 million, down 18.3% year over year.
Commercial revenues totaled $1,501 million, reflecting an increase of 6% year over year. Within the Commercial segment, small and medium business revenues were $931 million, up 4.5% year over year. Enterprise revenues came in at $570 million, increasing 8.3% on a year-over-year basis.
Advertising revenues were $419 million, down 17.3% year over year. Other revenues came in at $232 million, reflecting an increase of 4.1% year over year.
Quarterly operating costs and expenses were $6,621 million compared with $6,422 million in the year-ago quarter. Fourth-quarter adjusted EBITDA was $3,981 million compared with $3,853 million in the year-ago quarter. EBITDA margin came in at 37.5%, flat year over year.
In the fourth quarter of 2017, Charter Communications generated $3,258 million of cash from operations compared with $3,226 million a year ago. Free cash flow was $1,217 million compared with $1,855 million in the year-ago quarter.
At the end of 2017, Charter Communications had $621 million of cash and cash equivalents and $70,231 million of outstanding debt compared with $1,535 million and $62,464 million, respectively, at the end of 2016. The debt-to-capitalization ratio at the end of 2017 was 0.59 compared with 0.54 at the end of 2016.
Residential Segment: As of Dec 31, 2017, Charter Communications’ residential high-speed Internet subscribers increased 263,000 to 22.545 million. Voice subscribers grew 22,000 to 10.427 million. Importantly, video subscribers also increased 2,000 to 16.544 million.
Monthly residential revenues per customer were $110.21 compared with $109.77 in the prior-year quarter. Single Play penetration was 40.8%, Double Play penetration was 25.3% and Triple Play penetration was 33.9%.
Commercial Segment: As of Dec 31, 2017, Charter Communications had 453,000 video, 1,358,000 high-speed Internet and 912,000 voice subscribers. During the reported quarter, the company added 13,000 video customers, 37,000 high-speed Internet and 31,000 voice customers.
Monthly small and medium business revenues per customer were $201.37 compared with $214.25 in the prior-year quarter. Enterprise customers came in at 0.114 million, increasing 17.5% year over year.
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Charter Communications' (CHTR) Q4 Earnings Top Estimates
Charter Communications Inc. (CHTR - Free Report) reported impressive financial results for fourth-quarter 2017, wherein both the top and the bottom line outpaced the Zacks Consensus Estimate.
GAAP net income in the reported quarter was $9,553 million or $34.56 per share compared with net income of $454 million or $1.67 in the year-ago quarter. However, adjusted earnings per share of 86 cents were a penny above the Zacks Consensus Estimate.
Charter Communications, Inc. Price, Consensus and EPS Surprise
Charter Communications, Inc. Price, Consensus and EPS Surprise | Charter Communications, Inc. Quote
Fourth-quarter 2017 total revenues of $10,602 million increased 3.2% year over year surpassing the Zacks Consensus Estimate of approximately $10,583 million.
Residential segment revenues came in at $8,450 million compared with $8,129 million in the year-ago quarter. Within the Residential segment, Video revenues totaled $4,225 million, up 3.1% year over year. Internet revenues came in at $3,638 million, up 9.8% from the prior-year quarter, while Voice revenues were $587 million, down 18.3% year over year.
Commercial revenues totaled $1,501 million, reflecting an increase of 6% year over year. Within the Commercial segment, small and medium business revenues were $931 million, up 4.5% year over year. Enterprise revenues came in at $570 million, increasing 8.3% on a year-over-year basis.
Advertising revenues were $419 million, down 17.3% year over year. Other revenues came in at $232 million, reflecting an increase of 4.1% year over year.
Quarterly operating costs and expenses were $6,621 million compared with $6,422 million in the year-ago quarter. Fourth-quarter adjusted EBITDA was $3,981 million compared with $3,853 million in the year-ago quarter. EBITDA margin came in at 37.5%, flat year over year.
In the fourth quarter of 2017, Charter Communications generated $3,258 million of cash from operations compared with $3,226 million a year ago. Free cash flow was $1,217 million compared with $1,855 million in the year-ago quarter.
At the end of 2017, Charter Communications had $621 million of cash and cash equivalents and $70,231 million of outstanding debt compared with $1,535 million and $62,464 million, respectively, at the end of 2016. The debt-to-capitalization ratio at the end of 2017 was 0.59 compared with 0.54 at the end of 2016.
Charter Communications currently carries a Zacks Rank #4 (Sell). The company competes with AT&T Inc. (T - Free Report) , DISH Network Corp. and Comcast Corp. (CMCSA - Free Report) in the intensely competitive pay-TV industry. Each of these stocks carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Subscriber Statistics
Residential Segment: As of Dec 31, 2017, Charter Communications’ residential high-speed Internet subscribers increased 263,000 to 22.545 million. Voice subscribers grew 22,000 to 10.427 million. Importantly, video subscribers also increased 2,000 to 16.544 million.
Monthly residential revenues per customer were $110.21 compared with $109.77 in the prior-year quarter. Single Play penetration was 40.8%, Double Play penetration was 25.3% and Triple Play penetration was 33.9%.
Commercial Segment: As of Dec 31, 2017, Charter Communications had 453,000 video, 1,358,000 high-speed Internet and 912,000 voice subscribers. During the reported quarter, the company added 13,000 video customers, 37,000 high-speed Internet and 31,000 voice customers.
Monthly small and medium business revenues per customer were $201.37 compared with $214.25 in the prior-year quarter. Enterprise customers came in at 0.114 million, increasing 17.5% year over year.
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The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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