Charter Communications Exceeds Q3 Earnings Expectations

Charter Communications exceeded expectations with its Q3 2024 financial results, reporting earnings of $8.82 per share, surpassing Wall Street estimates of $8.62 and Zacks Consensus Estimate of $8.55. The company's revenue grew by 1.6% year-over-year to $13.8 billion, beating analysts' forecasts of $13.66 billion. Despite losing 110,000 broadband subscribers, which was lower than the anticipated 267,020 losses, Charter retained customers through affordable bundled plans. CEO Chris Winfrey highlighted their competitive pricing and investment capabilities as key to their resilience against major wireless competitors. The company revised its capital expenditure forecast down to $11.5 billion for 2024, citing reduced costs for network upgrades. Charter's stock has underperformed the broader market, with a 15.7% decline this year versus the S&P 500's gain of 19.6%, but it continues to focus on long-term growth strategies.