Jul 25, 11:17 AM

Charter Slides as Broadband Losses Eclipse Q2 Mobile Gains

Charter Communications reported second-quarter revenue of $13.8 billion, edging past the $13.76 billion analysts expected. Net income rose 5.7% to $1.3 billion, generating earnings of $9.18 a share. Free cash flow totaled $1 billion, while capital spending reached $2.9 billion. The company reiterated full-year capital-expenditure guidance of roughly $11.5 billion. Overall revenue grew 0.6% from a year earlier, powered by a 24.9% jump in residential mobile-service revenue. Charter added 500,000 mobile lines during the quarter, lifting its total to 10.9 million. The gains were offset by customer losses in core businesses, including a net decline of 117,000 internet subscribers, 80,000 video customers and 220,000 voice lines. Investors focused on the unexpected broadband losses, sending Charter shares down about 8% in morning trading despite the revenue beat and mobile momentum. The company said it remains committed to expanding its network and integrating recently announced transactions, including the pending acquisition of assets from Cox Communications.

#Charter Communications #Charter #Cox Communications

Written with ChatGPT .

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Charter Slides as Broadband Losses Eclipse Q2 Mobile Gains

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