Broadband service provider Charter Communications Inc (NASDAQ: CHTR) on Friday reported financial results for the third quarter of 2024.
- Third-quarter revenue increased 1.6% year-over-year to $13.8 billion, driven by residential mobile service revenue growth of 37.6% and residential Internet revenue growth of 1.7%
- Net income attributable to the company moved up to $1.28 billion in the third quarter from $1.26 billion a year earlier
- Total Internet customers decreased by 1.3% year over to 30.3 million in the September quarter
- Total mobile lines increased by 545,000 and the company ended the quarter with 9.4 million mobile lines
- As of September 30, Charter had a total of 31.7 million customer relationships, excluding mobile-only relationships
- Third-quarter adjusted EBITDA was $5.6 billion, which represents a 3.6% year-over-year increase
- Capital expenditures totaled $2.6 billion in Q3, including $1.1 billion of line extensions