Charter Communications reported a challenging first quarter for 2024 with significant subscriber losses and a stock price decline. The company lost 72,000 residential broadband subscribers, contributing to a new 52-week low for its stock, which is now down 46% from six months ago and opened down 8%. Despite these challenges, Charter's Q1 financials included an adjusted EPS of $7.55, slightly below the estimated $7.78, and revenue of $13.68 billion, marginally missing the forecast of $13.74 billion. The company's adjusted EBITDA stood at $5.5 billion, slightly above expectations, and it spent $2.8 billion on capital expenditures, against an estimate of $2.89 billion. Additionally, Charter announced $567 million in buybacks for the quarter and forecasts FY CAPEX to be between $12.2B and $12.4B. The stock was down 2.7% after the broadband subscriber miss.
$CHTR opens down 8% https://t.co/eGz8ZShvbl
Charter Communications (CHTR) hitting a new 52-week low this morning in the premarket, & now down 46% from 6 months ago. A company with as many local news channels as Charter should not be faltering in this environment, but it is... https://t.co/DG0VUmkc80
$CHTR earnings call 🧵
$CHTR (-2.3% pre) Charter Announces First Quarter 2024 Results https://t.co/RGstjlQZ8z
Charter continues to shed internet subscribers, reflecting cable’s growth woes https://t.co/uFJFwX3hmP
$CHTR approaching the $240s folks -2.7% after the broadband miss
$CHTR $567M of buybacks in 1Q24 https://t.co/TL4Lj4XMac
$CHTR | Charter Communications Q1 24 Earnings: - Adj EPS: $7.55 (est $7.78) - Revenue: $13.68B (est $13.74B) - Still Sees FY CAPEX $12.2B To $12.4B (est $12.3B) - Charter Communications 1Q Adj. EBITDA $5.5B (est. $5.46B) - Charter Communications 1Q CAPEX $2.8B (est. $2.89B)
*CHARTER LOSES 72,000 RESIDENTIAL BROADBAND SUBSCRIBERS IN 1Q24 https://t.co/99gByxZZvt
$CMCSA reported 65k 1Q24 broadband losses today But don’t worry, Chris Winfrey - conveniently before a massive Rutledge $CHTR sale - told us CHTR will be back to ~300k adds/Q in no time Liar or dumb, pick one https://t.co/99gByy0xl1
New low for another FinTwit favorite $CHTR https://t.co/gFQGPDbEFE