Charter beats Q3 estimates with smaller-than-expected broadband subscriber losses
Updates share move in paragraph 1
Nov 1 (Reuters) -Charter Communications CHTR.O beat Wall Street estimates for quarterly results and reported fewer-than-expected broadband subscriber losses on Friday, sending shares up 16% in early morning trading.
The Stamford, Connecticut-based company's affordable internet plans, offering high-speed data, have resonated well with customers and has fueled significant growth, countering competition from major wireless providers like AT&T T.N and Verizon VZ.N.
"We have pricing and packaging that saves customers money with the best products, and a service capability and investment that has yet to be fully realized as a competitive advantage," Charter CEO Chris Winfrey said in a statement.
In September, Charter rolled out cheaper internet plans bundled with its mobile and cable TV services to boost broadband customer retention.
Charter lost 110,000 internet customers in the third quarter, compared with expectations for 267,020 losses, according to Visible Alpha.
The broadband losses were primarily due to the end of a U.S. federal internet subsidy for low-income households.
Revenue for the third quarter grew 1.6% to $13.80 billion, beating estimates of $13.66 billion, according to data compiled by LSEG.
Charter reported earnings of $8.82 per share for the quarter, beating estimates of $8.62.
The company revised its full-year 2024 capital expenditure forecast to about $11.5 billion, down from around $12 billion, citing lower anticipated costs for network upgrades and expansion.
However, increased spending on infrastructure repairs partially offset this decrease following recent hurricanes.
Reporting by Harshita Mary Varghese in Bengaluru; Editing by Tasim Zahid
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
