Charter Communications' Q4 Residential and SMB Internet Customers Decreased by 61K, Residential and SMB Mobile Lines Increased by 546K
Portfolio Pulse from Benzinga Newsdesk
Charter Communications reported a Q4 decrease in residential and SMB Internet customers by 61K but saw an increase in mobile lines by 546K. The company's Q4 revenue grew by 0.3% YoY, with significant growth in mobile service revenue. Net income for Q4 was $1.1 billion, contributing to a total of $4.6 billion for 2023. Adjusted EBITDA for Q4 increased by 1.6% YoY. The full year revenue and EBITDA also saw growth, while free cash flow decreased due to higher capital expenditures. Charter repurchased 3.2 million shares in Q4.
February 02, 2024 | 12:05 pm
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Charter Communications reported a mixed Q4 with a decrease in Internet customers but a significant increase in mobile lines and a slight revenue growth. The company also repurchased shares worth $1.3 billion in Q4.
The decrease in Internet customers could concern investors, but the substantial growth in mobile lines and stable revenue growth, along with aggressive share repurchases, indicate a balanced outlook. The mixed results and strategic share repurchases could lead to a neutral short-term impact on CHTR's stock price.
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