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The Zacks Consensus Estimate for second-quarter 2022 revenues is pegged at $13.42 billion, indicating a 4.8% increase from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved up 0.4% to $6.91 in the past 30 days, suggesting growth of 30.62% from the figure reported in the year-ago quarter.
Charter’s earnings beat the Zacks Consensus Estimate in all of the last four quarters. CHTR has a trailing four-quarter earnings surprise of 15.07%, on average.
Charter Communications, Inc. Price and EPS Surprise
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
Charter’s top line in the to-be-reported quarter is expected to have benefited from increasing Internet subscribers and growing demand for greater connectivity speeds and data throughput.
In first-quarter 2022, Internet customers, who did not buy traditional video from Charter used roughly 700 gigabytes per month, more than 35% higher than pre-pandemic levels.
The Zacks Consensus Estimate for Residential-Internet revenues is pegged at $5.54 billion, indicating 6.1% growth from the figure reported in the year-ago quarter. The consensus mark for Residential-Internet subscribers is pegged at 28.42 million, suggesting subscriber growth of 2.5% year-over-year.
As of Mar 31, 2022, Charter had 32.198 million total customer relationships, with 766K net new customer relationships added over the past 12 months.
The company had 30.274 million Internet customers, up 3.6% year over year. Charter added 185K Internet customers in first-quarter 2022.
Internet revenues rose 7.5% year over year to $5.45 billion. The momentum is likely to have continued in the to-be-reported quarter.
Charter Communication’s expanding mobile subscriber base is also a key catalyst. The consensus mark for second-quarter mobile revenues is pegged at $718 million, indicating a surge of 38.3% from the figure reported in the year-ago quarter.
Key Q2 Highlights
During the to-be-reported quarter, Charter’s Spectrum launched Spectrum Internet, Mobile, TV and Voice services to more than 850 homes and small businesses in Weakley County.
Charter’s Spectrum also launched Spectrum Internet, Mobile, TV and Voice services to more than 200 homes and small businesses in northeast Richland County.
Moreover, Charter’s Spectrum Mobile partnered with Orbic, the U.S. smartphone manufacturer, to add the Journey V 4G LTE flip phone to the former’s lineup of devices.
Additionally, Charter announced that Spectrum News averaged more than 2.5 million daily viewing households across its 12-state local news footprint in April, beating CNN, Fox News, MSNBC, ABC, CBS, Fox and NBC as the most-watched news network by Spectrum customers. Further, the Spectrum News App reached a total of 2 million downloads with 348,000 unique visitors in April.
During the to-be-reported quarter, Charter Communications announced a joint venture with Comcast to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs.
Moreover, Charter Communications reached a comprehensive distribution agreement with Sinclair Broadcast Group, Inc., for continued carriage of Sinclair’s owned local broadcast stations, Tennis Channel, 19 Bally Sports RSN brands, Marquee Sports Network and the YES Network, in which Sinclair is a joint venture partner.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Charter has an Earnings ESP of -0.78% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
What's in Store for Charter Communications' (CHTR) Q2 Earnings?
Charter Communications (CHTR - Free Report) is set to report second-quarter 2022 results on Jul 29.
The Zacks Consensus Estimate for second-quarter 2022 revenues is pegged at $13.42 billion, indicating a 4.8% increase from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved up 0.4% to $6.91 in the past 30 days, suggesting growth of 30.62% from the figure reported in the year-ago quarter.
Charter’s earnings beat the Zacks Consensus Estimate in all of the last four quarters. CHTR has a trailing four-quarter earnings surprise of 15.07%, on average.
Charter Communications, Inc. Price and EPS Surprise
Charter Communications, Inc. price-eps-surprise | Charter Communications, Inc. Quote
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
Charter’s top line in the to-be-reported quarter is expected to have benefited from increasing Internet subscribers and growing demand for greater connectivity speeds and data throughput.
In first-quarter 2022, Internet customers, who did not buy traditional video from Charter used roughly 700 gigabytes per month, more than 35% higher than pre-pandemic levels.
The Zacks Consensus Estimate for Residential-Internet revenues is pegged at $5.54 billion, indicating 6.1% growth from the figure reported in the year-ago quarter. The consensus mark for Residential-Internet subscribers is pegged at 28.42 million, suggesting subscriber growth of 2.5% year-over-year.
As of Mar 31, 2022, Charter had 32.198 million total customer relationships, with 766K net new customer relationships added over the past 12 months.
The company had 30.274 million Internet customers, up 3.6% year over year. Charter added 185K Internet customers in first-quarter 2022.
Internet revenues rose 7.5% year over year to $5.45 billion. The momentum is likely to have continued in the to-be-reported quarter.
Charter Communication’s expanding mobile subscriber base is also a key catalyst. The consensus mark for second-quarter mobile revenues is pegged at $718 million, indicating a surge of 38.3% from the figure reported in the year-ago quarter.
Key Q2 Highlights
During the to-be-reported quarter, Charter’s Spectrum launched Spectrum Internet, Mobile, TV and Voice services to more than 850 homes and small businesses in Weakley County.
Charter’s Spectrum also launched Spectrum Internet, Mobile, TV and Voice services to more than 200 homes and small businesses in northeast Richland County.
Moreover, Charter’s Spectrum Mobile partnered with Orbic, the U.S. smartphone manufacturer, to add the Journey V 4G LTE flip phone to the former’s lineup of devices.
Additionally, Charter announced that Spectrum News averaged more than 2.5 million daily viewing households across its 12-state local news footprint in April, beating CNN, Fox News, MSNBC, ABC, CBS, Fox and NBC as the most-watched news network by Spectrum customers. Further, the Spectrum News App reached a total of 2 million downloads with 348,000 unique visitors in April.
During the to-be-reported quarter, Charter Communications announced a joint venture with Comcast to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs.
Moreover, Charter Communications reached a comprehensive distribution agreement with Sinclair Broadcast Group, Inc., for continued carriage of Sinclair’s owned local broadcast stations, Tennis Channel, 19 Bally Sports RSN brands, Marquee Sports Network and the YES Network, in which Sinclair is a joint venture partner.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Charter has an Earnings ESP of -0.78% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Take-Two Interactive (TTWO - Free Report) has an Earnings ESP of +11.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Take-Two Interactive is set to announce first-quarter fiscal 2022 results on Aug 8. TTWO shares have been down 26.7% year to date.
DraftKings (DKNG - Free Report) has an Earnings ESP of +1.29% and a Zacks Rank #2.
DraftKings is set to announce second-quarter 2022 results on Aug 5. DKNG shares have been down 52% year to date.
Universal Technical Institute (UTI - Free Report) has an Earnings ESP of +30.00% and a Zacks Rank #2.
Universal is set to announce third-quarter fiscal 2022 results on Aug 3. UTI shares have been down 1.9% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.