Charter Q2 2022 Earnings Report
Key Takeaways
Charter Communications reported a 6.2% year-over-year increase in revenue, reaching $13.6 billion, driven by growth in residential, mobile, and commercial sectors. Net income attributable to Charter shareholders increased by 44.2% to $1.5 billion. The company added 344,000 mobile lines and has a total of 32.1 million residential and SMB customer relationships.
Total residential and SMB mobile lines increased by 344,000 in Q2 2022, reaching a total of 4.3 million mobile lines.
Total residential and SMB Internet customers decreased by 21,000 in Q2, impacted by the discontinuation of the Emergency Broadband Benefit program.
Charter served a total of 32.1 million residential and SMB customer relationships, excluding mobile-only relationships.
Q2 revenue grew by 6.2% year-over-year, driven by residential revenue growth of 4.5%, mobile revenue growth of 39.8%, and commercial revenue growth of 4.2%.
Charter
Charter
Charter Revenue by Segment
Forward Guidance
Charter expects to grow its business by offering value-rich packages at affordable prices. The company is well-positioned due to the convergence of fixed and mobile broadband services, providing opportunities to save customers money, increase connects, reduce churn, and drive overall customer relationship growth.
Positive Outlook
- Convergence of fixed and mobile broadband services.
- Opportunity to save customers money with converged packages.
- Potential to increase customer connects.
- Ability to reduce churn through better value offerings.
- Drive overall customer relationship growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income