Charter Communications shares jumped in pre-market trading after the company reported better-than-expected third-quarter earnings. Other notable pre-market movers include Globalstar, Theriva Biologics, and Atlassian. Learn about the companies with significant gains and losses in today’s pre-market trading.
Charter Communications (CHTR) exceeded analyst expectations in the third quarter of 2024, reporting a 1.6% year-on-year revenue increase to $13.8 billion. The strong performance was driven by growth in Internet and Mobile services, offsetting losses in residential video subscribers. The company also saw a significant improvement in free cash flow, indicating a healthy financial position.
Broadcom, Charter, and Comcast are collaborating to develop Unified DOCSIS chipsets that will enable faster internet speeds for cable subscribers. The chipsets, based on the DOCSIS 4.0 specification, will support speeds exceeding 25 Gbps, paving the way for a more robust and powerful cable network infrastructure.
Liberty Broadband Corporation (LBRDA, LBRDK) stock soared on Tuesday after the company announced a counterproposal to Charter Communications (CHTR) for a merger. The all-stock transaction aims to simplify the corporate structure and offer shareholders enhanced liquidity.
Warner Bros. Discovery and Charter Communications have announced a multi-year distribution partnership that integrates linear video and streaming services. The deal includes the inclusion of Max (Ad Lite), Discovery+, and other Warner Bros. Discovery channels within Charter’s Spectrum TV Select packages. This partnership is expected to benefit both companies financially and strategically.
Charter Communications (CHTR) reported mixed financial results for the first quarter of fiscal 2024, with revenue slightly above but earnings per share (EPS) below consensus estimates. The company’s revenue grew 0.2% year-over-year to $13.68 billion, missing the consensus of $13.74 billion. EPS came in at $7.55, below the consensus of $7.92. Charter’s stock price dropped after the results were released.
