Stock Story -
What Happened: Shares of cable, internet, and telephone services provider Charter (NASDAQ:CHTR) jumped 17.6% in the afternoon session after the company reported second-quarter earnings results. Charter beat analysts' total internet customers and adjusted EBITDA expectations. Free cash flow also improved significantly (came in at $1.3B) and was above analysts' estimates. Overall, this was a really good quarter that should please shareholders.
Is now the time to buy Charter? Find out by reading the original article on StockStory, it's free.
What is the market telling us: Charter's shares are somewhat volatile and over the last year have had 4 moves greater than 5%. But moves this big are very rare even for Charter and that is indicating to us that this news had a significant impact on the market's perception of the business.
The biggest move we wrote about over the last year was 6 months ago, when the stock dropped 16.5% on the news that the company reported fourth-quarter results with adjusted EBITDA below expectations, leading to an EPS miss vs. analysts' expectations. The residential video subscriber count was in line, while internet subscribers missed by a bit. On the other hand, revenue beat by a very small amount. Overall, this was a mixed but mediocre quarter for Charter.
Charter is down 5.7% since the beginning of the year, and at $369.06 per share it is trading 19% below its 52-week high of $455.73 from September 2023. Investors who bought $1,000 worth of Charter's shares 5 years ago would now be looking at an investment worth $925.98.
![Charter (CHTR) Shares Skyrocket, What You Need To Know](https://d68-invdn-com.investing.com/content/pic5f0441d645ecfbf5fbbb720cd07e97e6.jpeg)