Charter Communications (NASDAQ:CHTR) earnings for the telecommunications company’s third quarter of 2019 have CHTR stock heading higher on Friday. This is thanks to its diluted earnings per share of $1.74 for the quarter. This beats out Wall Street’s estimate of $1.66. Revenue of $11.45 billion was also good news by coming in above analysts’ estimate of $11.41 billion.
Let’s take a closer look at the most recent Charter Communications earnings report.
- Diluted per-share earnings are down 17.54% YoY from $2.11.
- Revenue is up 5.14% from the $10.89 billion in the same period of the year prior.
- Income from operations of $1.59 billion comes in 15.22% higher than $1.38 billion in the third quarter of 2018.
- The Charter Communications earnings report also includes a net income of $387.00 million.
- This represents a 21.50% decrease from its net income of $493.00 million in Q3 2018.
- CHTR notes that the decrease to its net income was due to a pension remeasurement gain during the third quarter of the previous year.
Tom Rutledge, Chairman and CEO of Charter Communications, says this of the CHTR stock earnings.
“Our strategy of offering high-quality products with good service at attractive prices is working and continues to produce strong customer relationship growth. In the third quarter, customer relationship growth continued to accelerate and our operating strategy keeps us well-positioned to take advantage of the growth opportunity in front of Charter.”
CHTR stock was up 7.02% as of Friday afternoon. The stock is also up 51.07% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.