Why Is Charter Communications Stock Trading Lower Friday?
Portfolio Pulse from Anusuya Lahiri
Charter Communications, Inc (NASDAQ:CHTR) reported a slight revenue growth in Q4 FY23 but missed EPS estimates, leading to a stock price drop. The company saw growth in Internet and Mobile services but lost residential Internet and video customers, partly due to a temporary loss of Walt Disney Company (NYSE:DIS) programming. Despite higher capital expenditures for network expansion, Charter expects increased Capex in 2024. CHTR shares fell 9.24% in premarket trading.
February 02, 2024 | 1:33 pm
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NEGATIVE IMPACT
Charter Communications missed EPS estimates and reported a minor revenue growth, leading to a 9.24% drop in premarket trading.
Missing EPS estimates while showing minimal revenue growth can lead to negative investor sentiment, causing a significant stock price drop.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The temporary loss of Walt Disney Company programming contributed to Charter's loss of residential video customers.
While the loss of DIS programming impacted Charter's residential video customer numbers, the direct short-term impact on DIS stock is less clear without further context on the financial or operational impact on Disney.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50