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Charter Communications Q3 Profit Misses, But Revenue Beats

Thursday, November 3, 2016 6:41
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(Before It's News)

charter-chtr-logoCable TV and internet provider Charter Communications, Inc. (NASDAQ:CHTR) this morning posted mixed Q3 earnings results, as it continues to digest a recent massive merger.

The Stamford, CT-based company reported Q3 EPS of $0.69, missing Wall Street’s $0.79 estimate by a full ten cents. Revenue rose 7.4% from last year to $10.04 billion, narrowly beating analysts’ view of $10.01 billion.

Back in May, Charter, Time Warner Cable, and Bright House Networks all merged to create one giant cable tv and internet provider.

The company commented via press release:

“Our goal is to be a superior service provider. Charter, under the Spectrum brand, provides high quality products and service at attractive prices, allowing us to grow our residential and business customer relationships,” said Tom Rutledge, CEO and Chairman of Charter Communications. “The integration of Time Warner Cable and Bright House Networks is on track, and we are beginning to implement the Spectrum brand, with better products, pricing and packaging. Improving our service operations in a way that allows consumers to recognize Spectrum as the best service provider will take time, but our proven operating strategies will work for customers, employees, shareholders and the communities we serve.”

Charter shares were unchanged in premarket trading Thursday. Prior to today’s report, CHTR had gained 11.21% year-to-date, versus a 2.35% gain in the benchmark S&P 500 during the same period.

CHTR-2016-11-03

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