Charter Communications Stock Soars Despite Q4 Earnings Miss

Charter Communications stock was flying high on Thursday despite announcing an earnings miss for the fourth quarter of 2018.

Charter Communications Stock Soars Despite Q4 Earnings Miss

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Charter Communications (NASDAQ:CHTR) reported earnings per share of $1.29 for the fourth quarter of the year. This is an increase over its earnings per share of $1.14 from the same period of the year prior. However, it was well below Wall Street’s earnings per share estimate of $1.43 for the quarter, but that wasn’t able to keep Charter Communications stock down on Thursday.

Net income reported by Charter Communications for the fourth quarter of 2018 was sitting at $296 million. The telecommunications company reported net income of $9.55 billion during the same time last year.

Charter Communications earnings for the fourth quarter of the year also includes revenue of $11.23 billion. This is better than the company’s revenue of $10.60 billion reported in the fourth quarter of 2017. It was also a major boon to CHTR stock by beating out analysts’ revenue estimate of $11.14 billion for the period.

The strong revenue in the Charter Communications earnings report for the fourth quarter of 2018 is thanks to a few things. This includes residential revenue growth of 3.9%, commercial revenue growth of 4.5%, and advertising revenue growth of 34.1% during the quarter.

“We performed well in 2018, growing our Internet customer base by 1.3 million, cable revenue by 4.7%, and cable Adjusted EBITDA by 6.5% — very strong operating and financial performance, particularly in the midst of what we believe is the largest cable integration ever,” Tom Rutledge, Chairman and CEO of Charter Communications, said in a statement.

CHTR stock was up 14% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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