What's in the Cards for Charter Communications in Q3 Earnings?

Charter Communications CHTR is scheduled to report third-quarter 2024 results on Nov. 1.The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $13.7 billion, indicating a 0.86% increase from the year-ago quarter’s reported figure.The consensus mark for earnings has moved down 0.5% to $8.55 per share in the past 30 days. The projected figure suggests growth of 3.84% from the figure reported in the year-ago quarter.CHTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average negative surprise being 0.55%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. CHTR has an Earnings ESP of +2.71% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.Let’s see how things are shaping up for the upcoming announcement.Charter Communications, Inc. Price and EPS Surprise Charter Communications, Inc. price-eps-surprise | Charter Communications, Inc. QuoteFactors to ConsiderCharter Communications’ strategic investments in network infrastructure and fiber-optic construction, particularly through Spectrum's expanding network, are likely to have contributed to CHTR’s prospects in the to-be-reported quarter.Continuous enhancements in the company's Spectrum One network have been a major growth driver. In the quarter under review, Spectrum Reach announced a multi-year collaboration with Amazon AMZN Ads, making Spectrum Reach a Local Reseller for Amazon Ads advertising inventory.Charter Spectrum announced the launch of Gigabit Broadband, Mobile, TV and Voice Services in Rural Platte County (Missouri), Morgan, Walton and Greene Counties (Georgia), Cullman and Winston Counties (Alabama), Tuscaloosa, Greene and Hale Counties, (Alabama), Muskegon County and Otawa Michigan (Michigan) and Harnett County (North Carolina) among others.The company announced that the ad-supported version of Paramount Global’s PARA direct-to-consumer streaming service, Paramount+ Essential, is now available in all Spectrum TV Select and Mi Plan Latino packages nationwide at no additional cost.Charter Communications and Warner Bros. Discovery WBD announced a multi-year distribution partnership, which favorably extends Spectrum’s carriage of WBD’s linear network portfolio, including TNT, CNN, Food Network, HGTV, TLC, Discovery, TBS, Adult Swim and Investigation Discovery. Charter Spectrum announced an agreement offering Spectrum Business customers the ability to get NFL Sunday Ticket and Peacock Sports Pass via EverPass Media throughout Spectrum Business’ 41-state footprint. CHTR’s total residential revenues are likely to reflect a steady momentum in its mobile service segment, partly offset by lower voice and video revenues. A higher mix of non-video customers and growth of lower-priced video packages is expected to have kept the top line under pressure.The Zacks Consensus Estimate for total residential revenues is pegged at $10.71 billion, indicating a decline of 0.2% year over year. The consensus mark for total residential customer relationships is pegged at 31.69 million, suggesting a decline of 1.7% year over year.As of June 30, 2024, CHTR had a total of 31.8 million residential and SMB customer relationships, which excludes mobile-only relationships. Second-quarter total residential and SMB mobile lines increased 557K. The momentum is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for mobile lines’ net additions in the third quarter is pegged at 600K.The top-line growth in the to-be-reported quarter is expected to have been affected by the increasing competition in the cable space and sluggish Internet subscribers’ addition rate.Key Q3 AnnouncementsCharter Communications, Broadcom and Comcast announced a joint development of Unified DOCSIS chipsets for network nodes, smart amps and cable modems, enabling both FDX and ESD versions of the DOCSIS 4.0 specification and setting the stage to deliver upwards of 25 Gbps speeds over existing networks.Charter Communications and AMC Networks announced that they have agreed to an early renewal of their distribution agreement that will allow CHTR to carry AMC Networks’ portfolio of linear cable networks for multiple years to come. Charter will make AMC+ available for purchase to its millions of Internet-only customers.Charter Communications announced a collaboration with CableLabs to launch Bryte IQ, a Network-as-a-Service platform for the company’s wired and wireless networks.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Charter Communications, Inc. (CHTR): Free Stock Analysis Report Warner Bros. Discovery, Inc. (WBD): Free Stock Analysis Report Paramount Global (PARA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks