Charter Communications Q2 Sees Subscriber Loss On ACP Expiry, Still Beats Expectations (UPDATED)
Portfolio Pulse from Anusuya Lahiri
Charter Communications (NASDAQ:CHTR) reported Q2 2024 results with revenue of $13.69 billion and EPS of $8.49, both beating analyst estimates. Despite losing 154,000 residential Internet customers due to the end of FCC's ACP subsidies, the stock gained 7.54% premarket. The company expects 2024 capex of $12.0 billion.
July 26, 2024 | 12:30 pm
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Charter Communications reported better-than-expected Q2 2024 results with revenue of $13.69 billion and EPS of $8.49. Despite losing 154,000 residential Internet customers due to the end of FCC's ACP subsidies, the stock gained 7.54% premarket. The company expects 2024 capex of $12.0 billion.
The positive earnings surprise and revenue growth, despite the loss of Internet customers, have led to a significant premarket stock price increase. The company's outlook and capex expectations also provide a positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100