Charter Communications Earnings Cheat Sheet: Misses Analysts’ Estimates with Widening Loss

Charter Communications, Inc. (NASDAQ:CHTR) reported its results for the second quarter. Charter Communications, Inc. offers residential and commercial customers traditional cable video programming (basic and digital video), high-speed Internet services, and telephone services, as well as advanced broadband services.

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Charter Communications Earnings Cheat Sheet for the Second Quarter

Results: Loss widened to $107 million (98 cents per diluted share) from $81 million (loss of 72 cents per share) in the same quarter a year earlier.

Revenue: Rose 1.1% to $1.79 billion from the year earlier quarter.

Quoting Management: “We delivered another solid quarter of adjusted EBITDA growth and substantial free cash flow,” said Mike Lovett, President and Chief Executive Officer. “We made significant progress on our longer-term strategic initiatives and are just beginning to see the benefits of these investments. We continued to drive accelerated growth in our commercial business and higher penetration of our superior Internet product, and we are confident that the investments we are making to enhance our products and customer service are setting us up for long-term success.”

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 81 cents in the first quarter, by $1.03 in the fourth quarter of the last fiscal year, and by 76 cents in the third quarter of the last fiscal year.

Gross margin shrank 0.5 percentage point to 56.2%. The contraction appeared to be driven by increased costs, which rose 2.3% from the year earlier quarter while revenue rose 1.1%.

Revenue has risen the past four quarters. Revenue increased 2% to $1.77 billion in the first quarter. The figure rose 4.3% in the fourth quarter of the last fiscal year from the year earlier and climbed 4.5% in the third quarter of the last fiscal year from the year-ago quarter.

Competitors to Watch: Time Warner Inc. (NYSE:TWX), Liberty Global Inc. (NASDAQ:LBTYA), Comcast Corporation (NASDAQ:CMCSA), Mediacom Communications Corp. (NASDAQ:MCCC), Time Warner Cable Inc. (NYSE:TWC), Cablevision Systems Corp. (NYSE:CVC), Shaw Communications Inc. (NYSE:SJR), Netflix (NASDAQ:NFLX), TiVo (NASDAQ:TIVO), DirecTV (NASDAQ:DTV) and DISH Network Corp. (NASDAQ:DISH).

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(Source: Xignite Financials)

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