Charter Communications Residential Video Subscribers Are Falling, Stock Slides
Portfolio Pulse from Anusuya Lahiri
Charter Communications, Inc (NASDAQ:CHTR) reported Q3 FY23 revenue growth of 0.2% YoY to $13.58 billion, missing consensus estimates. The company saw a decline in revenue in Residential, Mobile, and Commercial sectors. The number of residential video customers decreased by 320,000. Despite this, the company's EPS of $8.25 beat consensus estimates. The company's shares traded lower by 6.97% in premarket trading.
October 27, 2023 | 12:37 pm
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NEGATIVE IMPACT
Charter Communications reported lower than expected Q3 FY23 revenue and a decrease in residential video customers. However, the company's EPS beat estimates. The company's stock traded lower in premarket trading.
Charter Communications reported lower than expected revenue for Q3 FY23, which is likely to negatively impact investor sentiment. Additionally, the decrease in residential video customers could indicate potential challenges in the company's growth. Despite the EPS beating estimates, the overall negative news led to a decrease in the company's stock price in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100