Fri, Jul 26, 11:04 AM (43 days ago)
Charter Communications, Inc. reported a stable revenue of $13.7 billion for Q2 2024, a slight increase from $13.659 billion in Q2 2023. The company saw growth in residential mobile service, Internet, enterprise, and other revenues, though this was offset by a decline in residential video revenue. Adjusted EBITDA rose by 2.6% to $5.665 billion, while income from operations increased by 0.7% to $3.263 billion. Net income attributable to Charter shareholders was $1.231 billion, up from $1.223 billion in Q2 2023. Key financial metrics include: - Operating costs and expenses decreased slightly due to lower programming costs, though mobile service costs increased. - Depreciation and amortization remained stable. - Interest expense rose due to higher average interest rates. - Free cash flow improved to $1.296 billion, driven by higher Adjusted EBITDA and favorable working capital changes. The company expects continued impacts from the end of the Affordable Connectivity Program, affecting customer net gains and bad debt through the rest of 2024. Charter's capital expenditure guidance for 2024 is approximately $12.0 billion.