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Jan. 31, 2020, 7:12 a.m. EST

Charter stock gains after earnings beat

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By Emily Bary

Charter Communications Inc. shares /zigman2/quotes/201656355/lastsale CHTR +2.74% were up 2.2% in premarket trading Friday after the company posted a sizable fourth-quarter earnings beat. The company reported net income of $714 million, or $3.28 a share, up from $296 million, or $1.29 a share, in the year-prior quarter. Earnings per share came in significantly above the FactSet consensus, which called for $2.52. Charter said that the increase in net income was mainly driven by a rise in adjusted earnings before interest, taxes, depreciation, and amortization and a non-cash loss in the year-earlier period compared with a gain in the most recent quarter. Quarterly revenue rose to $11.76 billion from $11.23 billion and came in a bit above the consensus forecast, which was for $11.73 billion. Charter shares have added 5.4% over a three-month span as the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.28% has increased 8.1%.

/zigman2/quotes/201656355/lastsale
US : U.S.: Nasdaq
$ 435.66
+11.63 +2.74%
Volume: 1.38M
April 2, 2020 4:00p
P/E Ratio
57.94
Dividend Yield
N/A
Market Cap
$89.04 billion
Rev. per Employee
$445,245
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/zigman2/quotes/210599714/realtime
US : S&P US
2,526.90
+56.40 +2.28%
Volume: 3.87B
April 2, 2020 5:11p
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