Charter Communications earnings for the second quarter of the year have CHTR stock falling on Friday.
Charter Communications (NASDAQ:CHTR) reported earnings per share of $1.39 for the second quarter of 2019. That’s better than the company’s earnings per share of $1.15 for the second quarter of 2018. However, it was a blow to CHTR stock by missing Wall Street’s earnings per share estimate of $1.85 for the period.
Charter Communications earnings for the second quarter of the year also includes net income of $314 million. This is up from the company’s net income of $273 million reported during the same time last year.
The Charter Communications earnings report for the second quarter of 2019 has revenue coming in at $11.34 billion. This is an increase over the cable company’s revenue of $10.85 million reported in the second quarter of the previous year. Despite this, it was still bad news for CHTR stock by not reaching analysts’ revenue estimate of $11.40 billion for the quarter.
Charter Communications notes that it saw its residential video customers decrease by 150,000 in the second quarter of the year. This is more than double the number of residential video customers that it lost in the same period of the year prior. The company now has 15.80 million residential video customers as of June 30, 2019.
CHTR stock was down 2% as of Friday afternoon. However, the stock is up roughly 40% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.