US Stock Market News | Charter Comm Soars 17%, Achieving the Largest Increase in History

Charter Comm's stock surged 17% in Friday's trading to $368.85, marking the largest historical gain. This performance was driven by the company's strong quarterly financial report. According to FactSet data, the company reported earnings per share of $8.49 for the second quarter, surpassing Wall Street's expectations of $7.98. Additionally, the company's revenue reached $13.69 billion, exceeding analysts' forecast of $13.59 billion. Revenue growth was mainly attributed to increases in residential mobile services, residential internet, enterprise, and other revenue, partially offset by a decline in residential video revenue. Of particular note, mobile services revenue soared by 37% year-on-year. The company stated that due to a decrease in net additions of internet and video customers, capital expenditures for the full year 2024 are expected to be around $12 billion, lower than the previous forecast of $12.2 billion to $12.4 billion