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Dec 31, 2023
Charter Q4 2023 Earnings Report
Charter's Q4 2023 results were announced, revealing a mixed performance with revenue growth offset by customer losses in some segments and gains in others.
Key Takeaways
Charter Communications reported Q4 2023 revenue of $13.7 billion, a 0.3% increase year-over-year. Net income attributable to Charter shareholders was $1.1 billion. The company experienced growth in residential Internet and mobile service revenues, but a decrease in residential video and advertising sales revenues. Total residential and SMB Internet customers decreased by 61,000, while mobile lines increased by 546,000.
Total residential and SMB Internet customers decreased by 61,000 in Q4.
Total residential and SMB mobile lines increased by 546,000 in Q4.
Q4 revenue grew by 0.3% year-over-year to $13.7 billion, driven by residential Internet and mobile service growth.
Net income attributable to Charter shareholders totaled $1.1 billion in Q4.
Charter
Charter
Charter Revenue by Segment
Revenue by Segment
Internet Revenue
CapyFin.comVideo Revenue
CapyFin.comMobile Service Revenue
CapyFin.comVoice Revenue
CapyFin.comSmall Business Revenue
CapyFin.comMid-Market & Large Business Revenue
CapyFin.comAdvertising Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Charter expects full year 2024 capital expenditures to total between $12.2 billion and $12.4 billion, including line extensions capital expenditures of approximately $4.5 billion and network evolution spend of approximately $1.6 billion.
Positive Outlook
- Network evolution efforts remain on course.
- Beginning to see the benefits of investments in employees and digital service.
- Clear strategy to offer consumers the best products and services.
- Rural footprint expansion exceeding deployment and penetration targets.
- Offering consumers the best products and services, all while saving them money.
Challenges Ahead
- Actual amount of capital expenditures in 2024 will depend on a number of factors.
- Capital expenditures depend on the pace of Charter's network evolution and expansion initiatives.
- Capital expenditures depend on supply chain timing.
- Capital expenditures depend on growth rates in Charter's residential and commercial businesses.
- Decrease in free cash flow was primarily driven by an increase in capital expenditures and a decrease in net cash flows from operating activities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income