Charter Communications Reported Q1 Residential and Small and Medium Business ("SMB") Internet Customers Decrease of 72,000, Residential and SMB Mobile Lines Increase of 486,000
Portfolio Pulse from Benzinga Newsdesk
Charter Communications reported a decrease of 72,000 in Q1 residential and SMB Internet customers, but saw an increase of 486,000 in mobile lines. Total revenue for the quarter was $13.7 billion, a 0.2% increase year-over-year, with significant growth in residential mobile service and Internet revenue.
April 26, 2024 | 11:06 am
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Charter Communications saw a mixed Q1 with a decrease in Internet customers but a significant increase in mobile lines, alongside a slight revenue growth.
The decrease in Internet customers could be seen negatively by investors, indicating potential challenges in customer retention or competition. However, the substantial increase in mobile lines and the overall revenue growth, especially from mobile services and Internet, suggest a successful diversification of Charter's product offerings. The mixed results make the short-term impact neutral, as the positive aspects may offset the negative customer loss in Internet services.
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