Charter Communications Shares Gain

July 27, 2017

Charter Communications opened at a record high on Thursday although the company missed Wall Street’s expectations on Q2 earnings and revenues, but reported a year-over-year increase in customer relationships and total primary services units (PSUs) for residential, small and medium (SMB) businesses and enterprise.

The company, along with operations of Time Warner Cable and Bright House Networks, earned a profit of $0.52 per share, missing the Capital IQ consensus estimate of $0.76 per share, and down from $0.91 per share on a pro forma-basis for the same quarter last year. Total revenue increased to $10.36 billion from $9.97 billion but missed the estimated $10.38 billion. The company also said Q2 total residential and SMB PSUs increased by 243,000 and total customer relationships increased 211,000.

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By Stephen Holmes

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