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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Charter Communications Inc    CHTR

CHARTER COMMUNICATIONS INC (CHTR)
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T-Mobile profit surges on $2.2 billion tax gain

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02/08/2018 | 05:36pm CEST
T-Mobile logo is advertised on building sign in Los Angeles

(Reuters) - T-Mobile US Inc's (>> T-Mobile US) quarterly profit jumped nearly sevenfold as the No. 3 U.S. wireless carrier recorded a $2.2 billion gain from recent changes in U.S. tax laws, but Wall Street analysts raised questions about the company's growth.

(Reuters) - T-Mobile US Inc's (>> T-Mobile US) quarterly profit jumped nearly sevenfold as the No. 3 U.S. wireless carrier recorded a $2.2 billion gain from recent changes in U.S. tax laws, but Wall Street analysts raised questions about the company's growth.

T-Mobile has been using lower prices and added perks to take market share from larger rivals Verizon Communications Inc (>> Verizon Communications) and AT&T Inc (>> AT&T) in a saturated market for wireless services. The company ended merger talks with rival Sprint Corp (>> Sprint Corp) late last year.

In 2018, T-Mobile said it expects to add between 2 million and 3 million subscribers who pay a monthly bill. Analysts called the numbers conservative.

"Management always guides conservatively," said Jonathan Chaplin, an analyst at New Street Research, in a research note. He noted that in 2017, T-Mobile exceeded the high end of its initial expectations on subscriber additions.

But Craig Moffett, an analyst at MoffettNathanson, said in a note that cable companies' entry into the wireless market posed concerns about future growth. Comcast Corp (>> Comcast Corporation) already sells mobile service and Charter Communications Inc (>> Charter Communications Inc) plans to enter the market.

"It is not unreasonable to think that the two cable operators could capture a third of all market growth," he wrote. "It is not unreasonable to assume that even go-go T-Mobile will see slower subscriber growth."

Shares were down 2.5 percent to $60.50 in mid-morning trading.

The company said it added 891,000 phone subscribers in the fourth quarter, compared with 933,000 a year earlier.

T-Mobile's net income was $2.71 billion, or $3.11 per share, in the quarter ended Dec. 31, up from $390 million, or 45 cents a share, a year earlier.

Excluding items, the company earned 48 cents per share.

Revenue rose 5.1 percent to $10.76 billion. Analysts, on average, were expecting revenue of $10.83 billion, according to Thomson Reuters I/B/E/S.

Last month, the wireless carrier said it had closed on its acquisition of Layer3 TV, a startup that has marketed itself as a next-generation cable service, for an undisclosed amount. It has plans to launch a new streaming service this year.

(Reporting by Anjali Athavaley in New York and Supantha Mukherjee in Bengaluru; Editing by Shounak Dasgupta and Marguerita Choy)

Stocks mentioned in the article
ChangeLast1st jan.
AT&T 0.20% 32.27 Delayed Quote.-17.03%
CHARTER COMMUNICATIONS INC 1.96% 308 Delayed Quote.-10.09%
COMCAST CORPORATION 1.01% 35.405 Delayed Quote.-12.51%
SPRINT CORP 1.07% 6.135 Delayed Quote.2.38%
T-MOBILE US 0.91% 66.3 Delayed Quote.3.45%
VERIZON COMMUNICATIONS 1.28% 52.92 Delayed Quote.-0.87%
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Financials ($)
Sales 2018 43 622 M
EBIT 2018 5 139 M
Net income 2018 1 044 M
Debt 2018 71 515 M
Yield 2018 -
P/E ratio 2018 70,20
P/E ratio 2019 42,61
EV / Sales 2018 3,25x
EV / Sales 2019 3,15x
Capitalization 70 127 M
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Number of Analysts 29
Average target price 375 $
Spread / Average Target 24%
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Managers
NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer
James A. Blackley EVP-Engineering & Information Technology
W. Lance Conn Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
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DISH NETWORK CORPORATION-26.72%16 443
LIBERTY BROADBAND CORP-7.20%14 360
CABLE ONE INC10.15%4 437
MEGACABLE HOLDINGS SAB DE CV6.52%3 898