Why Charter Communications (CHTR) Shares Are Trading Higher Today - Charter Communications (NASDAQ:CHTR)

Charter Communications, Inc CHTR reported first-quarter FY23 revenue growth of 3.4% year-on-year to $13.65 billion, beating the consensus of $13.62 billion.
Revenue growth of 2.5% in Residential, 28.3% in Mobile, and 2.4% in Commercial drove the top-line.
Charter added 67,000 residential Internet customers, compared to 164,000 last year. Residential video customers decreased by (237,000) versus a decrease of (123,000) in the prior year.
Margin: Adjusted EBITDA margin declined by 30 bps to 39.2%. Operating expenses rose 5.4% Y/Y.
EPS of $6.65 missed the consensus of $7.50.
As of March 31, Charter served 30.5 million residential and SMB Internet customers.
Net cash flow from operating activities totaled $3.3 billion. The company held $534 million in cash and equivalents.
Read: Verizon and AT&T Performance Woes Impact Charter Communications: Analyst Lowers Expectations
Charter Communications' telecom counterparts also posted lackluster results.
Yesterday, Comcast Corp (NASDAQ: CMCSA) reported a first-quarter FY23 revenue decline of 4.3% year-on-year to $29.69 billion, beating the consensus of $29.34 billion. Adjusted EPS of $0.92 beat the consensus of $0.82.
This week, Verizon Communications Inc VZ reported a first-quarter FY23 sales decline of 1.9% year-on-year to $32.9 billion, missing the consensus of $33.6 billion. Adjusted EPS of $1.20 was in line with the consensus.
A week ago, AT&T Inc T reported first-quarter FY23 operating revenues of $30.14 billion, up 1.4% year-over-year, marginally missing the consensus of $30.26 billion. Adjusted EPS of $0.60 beat the consensus of $0.58.
Price Action: CHTR shares traded higher by 7% at $366.73 on the last check Friday.

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Why Charter Communications Shares Are Trading Higher Today

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