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Charter Communications (NASDAQ:CHTR) reported fourth-quarter earnings on Friday that surpassed analyst expectations, driven by growth in mobile services and advertising sales.
The cable and internet provider posted adjusted earnings per share of $10.10, exceeding the analyst estimate of $9.29. Revenue for the quarter rose 1.6% year-over-year to $13.93 billion, slightly above the consensus forecast of $13.88 billion, it said in a statement.
Charter’s residential mobile service revenue surged 37.4% compared to the same period last year, while advertising sales revenue jumped 26.4%. The company added 529,000 mobile lines in the quarter, bringing its total to 9.9 million.
However, Charter continued to face challenges in its core internet business. Total (EPA:TTEF) internet customers decreased by 177,000 in the fourth quarter to 30.1 million, which the company attributed partly to the end of the FCC (BME:FCC)’s Affordable Connectivity Program and hurricane impacts.
Charter’s fourth-quarter Adjusted EBITDA grew 3.4% YoY to $5.8 billion. For the full year 2024, the company reported revenue of $55.1 billion, up 0.9% from 2023, with Adjusted EBITDA increasing 3.1% to $22.6 billion.
Looking ahead, Charter expects capital expenditures of approximately $12 billion for 2025, including $4.2 billion for line extensions and $1.5 billion for network evolution initiatives.
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