Telecom Stock Roundup: Sprint, Infinera, Charter Communications Results Impress
Zacks Investment Research | Feb 07, 2018 10:26PM ET
The last week looked like a bad spell for the telecom sector. Almost all major telecom stocks lost value in line with the broader market (the S&P 500) movement. Very few developments took place save the scheduled earnings releases.
National Wireless Carrier Sprint Corp. (NYSE:S) reported better-than-expected financial results in the third quarter of fiscal 2017. Total revenues were above the Zacks Consensus Estimate while loss per share came in better.
Sprint reported net additions of 3,85,000 wireless customers, including postpaid net gain of 2,56,000, prepaid net additions of 63,000 and wholesale and affiliate net additions of 66,000. Sprint's focus on delivering the most attractive value proposition in wireless resulted in 1,84,000 postpaid phone net additions.
Leading cable MSO (multi service operator) Charter Communications Inc. (NYSE:T) reported impressive financial results for fourth-quarter 2017, wherein both the top and the bottom line outpaced the Zacks Consensus Estimate.
As of Dec 31, 2017, Charter Communications’ residential high-speed Internet subscribers increased 263,000 to 22.545 million. Voice subscribers grew 22,000 to 10.427 million. Importantly, video subscribers also increased 2,000 to 16.544 million. As of Dec 31, 2017, Charter Communications had 453,000 video, 1,358,000 high-speed Internet and 912,000 voice subscribers for the commercial segment.
Taiwanese telecom behemoth Chunghwa Telecom Co. Ltd. (NYSE:T) posted strong financial results in fourth-quarter 2017. Quarterly total revenues were around $2,023 million, reflecting an increase of 10.3% year over year. Net earnings per American Depository Share were 37 cents, reflecting an increase of 19.4% from the year-ago quarter. Chunghwa currently carries a Zacks Rank #3 (Hold). You can see Zacks Investment Research
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