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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Charter Communications, Inc.    CHTR

CHARTER COMMUNICATIONS, INC.

(CHTR)
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Charter Communications : Posts Higher 3Q Profit and Revenue, Adds Customers

10/30/2020 | 06:55am EST

By Matt Grossman

Charter Communications Inc. Friday posted a rise in its third-quarter profit as it added a greater number of internet and mobile-phone customers and as advertising spending increased with a boost from political campaigns.

The Stamford, Conn.-based cable-TV and internet provider logged a third-quarter profit of $814 million, or $3.90 a share, compared with a profit of $387 million, or $1.74 a share, in the same three-month period a year earlier.

Analysts surveyed by FactSet were expecting a profit of $3.18 a share.

Revenue was $12.04 billion, up from $11.45 billion in the same three-month period a year earlier. Analysts had forecast revenue of $12.07 billion.

Residential-customer revenue grew by 4% to $9.4 billion as the company gained new internet customers and stepped others up from introductory rates. The gains more than offset expenses from credits as Charter set aside money to reimburse sports-network subscribers for canceled games during the pandemic.

Advertising sales increased by 17% year-over-year as political campaigns booked more spots ahead of next month's elections. Ad revenue declined by 11% excluding political buyers.

Residential and small- and medium-business internet customers increased by 537,000 in the quarter, compared with 380,000 in the year-earlier period. Charter added 363,000 new mobile lines, compared with 276,000 in the same period a year earlier.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

10-30-20 0754ET

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Financials (USD)
Sales 2021 50 899 M - -
Net income 2021 3 990 M - -
Net Debt 2021 86 599 M - -
P/E ratio 2021 30,8x
Yield 2021 -
Capitalization 118 B 118 B -
EV / Sales 2021 4,01x
EV / Sales 2022 3,87x
Nbr of Employees 96 100
Free-Float 67,1%
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 704,50 $
Last Close Price 607,64 $
Spread / Highest target 35,8%
Spread / Average Target 15,9%
Spread / Lowest Target -10,3%
EPS Revisions
Managers and Directors
NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer
Richard J. DiGeronimo Chief Product & Technology Officer
Stephanie Mitchko-Beale Chief Technology Officer & Executive VP
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