04:05 PM EDT, 09/26/2024 (MT Newswires) -- Charter Communications ( CHTR ) is likely to see revenue and earnings before interest, taxes, depreciation and amortization grow year-over-year in Q3, UBS Securities said in a note Thursday.

Q3 revenue and EBITDA are expected to grow 0.9% and 3.2%, respectively, an increase from year-over-year growth of 0.2% and 2.6% respectively in Q2, the investment firm said.

On July 26, the company reported Q2 revenue of $13.69 billion, up from $13.66 billion a year earlier.

The company is expected to experience higher broadband subscriber losses in Q3 and Q4 due to non-paying customers being disconnected, UBS said. Despite this, Charter is still expected to achieve positive revenue and EBITDA growth, driven by price increases, lower costs, and political advertising, the note said.

For the full year, Charter is maintaining its estimates for revenue and EBITDA growth, but expects growth to slow down in 2025 as the impact of broadband losses and the decline in political advertising spending becomes more apparent, UBS said.

"We expect [Q3] EBITDA to grow at 3.2%, accelerating from 2.6% in Q2 as July price increases, lower costs and ramping political advertising support trends," UBS said.

UBS has a neutral rating on Charter with a $325 price target.

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