Yahoo Finance What's in Store for Charter Communications' (CHTR) Q1 Earnings?
Charter Communications CHTR is set to report its first-quarter 2023 results on Apr 28.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $13.57 billion, indicating a 2.84% increase from the year-ago quarter’s reported figure.
The consensus mark for earnings has remained unchanged at $7.22 per share in the past 30 days, suggesting a rise of 4.64% from the figure reported in the year-ago quarter.
Charter’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, having an earnings surprise of 5.68%, on average.
Charter Communications, Inc. Price and EPS Surprise
Charter Communications, Inc. price-eps-surprise | Charter Communications, Inc. Quote
Factors to Consider
Charter is likely to have benefited from an expanding network and fiber-optic construction, thanks to Spectrum’s expanding network design center. Its acquisitions, which enhanced existing broadband services, are expected to have helped Charter’s prospects in the to-be-reported quarter.
However, top-line growth in the to-be-reported quarter is expected to reflect a sluggish Internet subscribers addition rate. In the last reported quarter, Charter had 30.4 million internet customers, up only 1.14% year over year. Charter gained 105K Internet customers in the last reported quarter, down from 190K added in the year-ago quarter.
Charter’s first-quarter 2023 top line is expected to have been affected by the increasing competition in the cable space. Challenging macroeconomic conditions and reversal of pandemic trends have been potential headwinds.
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 -3.07% 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 couple of stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
PubMatic PUBM has an Earnings ESP of +16.67% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
PUBM is set to announce first-quarter 2023 results on May 9, 2023. PubMatic shares are up 7% year to date.
DigitalOcean DOCN has an Earnings ESP of +11.93% and a Zacks Rank #2.
DigitalOcean is set to announce first-quarter 2023 results on May 9, 2023. DOCN shares are up 29.1% year to date.
Garmin GRMN has an Earnings ESP of +5.79% and a Zacks Rank #3.
Garmin is set to announce first-quarter 2023 results on May 3, 2023. GRMN shares are up 5.9% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Charter Communications, Inc. (CHTR) : Free Stock Analysis Report
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DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report
