Charter Communications ( (CHTR) ) has released its Q3 earnings. Here is a breakdown of the information Charter Communications presented to its investors.
Charter Communications, Inc., a leading broadband connectivity company operating under the Spectrum brand, provides residential and business services including internet, TV, mobile, and voice across 41 states in the U.S.
In the third quarter of 2024, Charter Communications reported a modest revenue growth of 1.6% year-over-year to $13.8 billion, driven by significant increases in residential mobile service and internet revenues. However, the company faced a decline in total internet customers by 110,000 and video customers by 294,000, offset by an increase in mobile lines by 545,000.
Key financial highlights include an adjusted EBITDA growth of 3.6% year-over-year to $5.6 billion and a substantial increase in free cash flow by 47.6% to $1.6 billion, primarily due to lower capital expenditures and improved adjusted EBITDA. Despite the challenges in customer base, the company maintained a net income of $1.3 billion attributable to its shareholders.
Strategically, Charter is focusing on expanding its network capabilities, launching a new brand platform ‘Life Unlimited’, and simplifying its pricing strategy to enhance customer value. The company is also advancing its connectivity offerings, including multi-gigabit internet speeds and enhanced mobile services, to maintain its competitive edge.
Looking ahead, Charter Communications remains committed to leveraging its comprehensive network and investment strategies to deliver superior connectivity and entertainment solutions, aiming to further optimize its service capabilities and expand its reach in unserved and underserved markets.
