Charter Communications, Inc. (NASDAQ:CHTR) swung to a loss in the first 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.
Charter Communications Earnings Cheat Sheet for the First Quarter
Results: Swung to a loss of $110 million (97 cents/diluted share) in the quarter. The company had net income of $24 million or 21 cents per share in the year earlier quarter.
Revenue: Rose 2% to $1.77 billion YoY.
Actual vs. Wall St. Expectations: The mean estimate for CHTR was 21 cents/share. Estimates ranged from 5 cents per share to 43 cents per share.
Quoting Management: “I’m pleased to report solid first quarter results for 2011,” said Mike Lovett, President and Chief Executive Officer. “Our first quarter performance was driven by the acceleration of growth in our commercial business, discipline around customer acquisition, and continued strength in our high-speed Internet business driving higher customer relationships. We are continuing to make investments in the customer experience, brand and residential and commercial platform, further increasing the value of our bundles and simplifying the ways our customers engage with us and our products.”
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), DirecTV (NASDAQ:DTV), TiVo (NASDAQ:TIVO), Disney (NYSE:DIS), CBS (NYSE:CBS), News Corp (NASDAQ:NWSA) and DISH Network Corp. (NASDAQ:DISH)
Stock Performance: Shares of CHTR are trading at $57.20 pre-market, down 3.54% from a previous close of $59.30.