Charter Communications Expects 2024 Capex of $12.0B (Prior $12.2B–$12.4B)
Portfolio Pulse from Benzinga Newsdesk
Charter Communications has revised its 2024 capital expenditure forecast to $12.0 billion, down from the previous range of $12.2 billion to $12.4 billion. The reduction is due to lower net additions of Internet and video customers and the end of the ACP. Despite this, Charter plans to increase spending on line extensions and network evolution.
July 26, 2024 | 11:06 am
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Charter Communications has reduced its 2024 capital expenditure forecast to $12.0 billion from the previous range of $12.2 billion to $12.4 billion. This reduction is attributed to lower net additions of Internet and video customers and the end of the ACP. However, the company plans to increase spending on line extensions and network evolution.
The reduction in capital expenditure forecast may be seen as a cost-saving measure, which could be neutral to slightly positive for the stock price in the short term. However, the increased spending on line extensions and network evolution indicates a focus on long-term growth, balancing the overall impact.
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