3 months ago
Key Takeaways
- Mobile work request helped boost net and gross astatine Charter Communications.
- The institution posted a 36.9% year-over-year summation successful mobile work revenue, and net work gross besides increased.
- Shares soared 17% soon aft trading commenced Friday but stay little connected nan year.
Charter Communications (CHTR) shares soared Friday aft nan cable, phone, and net supplier posted better-than-expected results connected higher request for its mobile service.
Charter reported second-quarter earnings per stock (EPS) of $8.49, pinch gross up little than 1% to $13.69 billion. Both hit statement estimates of analysts polled by Visible Alpha.
Mobile Service Revenue Jumps 36.9% From Last Year
Revenue from its mobile work jumped 36.9% to $737 million. Internet service, nan company’s biggest segment, posted a 1.3% gross summation to $5.81 billion. However, gross from its video work declined 7.7% to $3.87 billion, and it dropped 4.2% to $350 cardinal for its sound service.
Charter noted that it now expects to trim full-year capital expenditures to astir $12 billion, down from its erstwhile outlook of $12.2 cardinal to $12.4 billion. It said nan alteration reflected “lower net and video customer nett additions.”
Shares of Charter Communications jumped astir 17% to $368.44 arsenic of 10:10 a.m. ET Friday but stay astir 5% little successful 2024.
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