Charter Q2 2023 Earnings Report
Key Takeaways
Charter Communications reported a slight increase in revenue, driven by growth in residential internet and mobile service revenues. The company saw an increase in total residential and SMB internet customers and mobile lines. However, net income and free cash flow decreased compared to the prior year, impacted by higher capital expenditures and cash taxes.
Total residential and SMB Internet customers increased by 77,000.
Total residential and SMB mobile lines increased by 648,000.
Second quarter revenue grew by 0.5% year-over-year to $13.7 billion.
Net income attributable to Charter shareholders totaled $1.2 billion.
Charter
Charter
Charter Revenue by Segment
Forward Guidance
Charter expects full year 2023 capital expenditures, excluding line extensions, to be between $6.5 billion and $6.8 billion. Charter expects 2023 line extensions capital expenditures to be approximately $4 billion. The actual amount of capital expenditures in 2023 will depend on a number of factors including, but not limited to, the pace of Charter's network evolution and expansion initiatives, supply chain timing and growth rates in Charter's residential and commercial businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income