Charter Communications Earnings Snapshot: Key Insights from Q3 2024

Charter Communications Earnings Snapshot: Q3 2024 Insights

Broadband service provider Charter Communications (NASDAQ: CHTR) showcased impressive performance in its latest earnings snapshot for Q3 2024. Revenue for this quarter reached $13.8 billion, marking a 1.6% increase year-over-year. This growth was largely driven by a remarkable 37.6% surge in residential mobile service revenue.

Financial Highlights

• Net income attributable to Charter rose to $1.28 billion, compared to $1.26 billion a year earlier.
• Total Internet customers saw a minor decrease by 1.3%, settling at 30.3 million.
• The number of mobile lines increased by 545,000, reaching 9.4 million total mobile lines.
• Charter's total customer relationships stood at 31.7 million as of September 30, excluding mobile-only connections.
• Adjusted EBITDA was reported at $5.6 billion, reflecting a 3.6% year-over-year increase.
• Capital expenditures for Q3 totaled $2.6 billion, which included $1.1 billion allocated to line extensions.

Outlook

With these figures, Charter Communications reinforces its position within the technology and communication services sectors. As the company continues to adapt to shifting market demands, its focus on cable services, video on demand, and mobile services remains critical for sustaining long-term growth.