Charter Communications posts strong Q2 results

by / ⠀News / October 8, 2024
Charter Communications posts strong Q2 results

Charter Communications reported better-than-expected results for the second quarter, driven by significant demand for its mobile services. The company posted earnings per share of $8.49 and overall revenues of $13.69 billion, marking a modest growth of 0.23%. Charter’s biggest segment, internet services, posted a 1.3% revenue gain to $5.81 billion.

Mobile service revenue jumped 36.9% to $737 million. The company is working to improve its EBITDA in the latter part of 2024 through cost-cutting measures.

Charter sees Q2 revenue growth

It aims for steady EBITDA throughout 2025. Charter’s P/E ratio of 9.24 suggests it might be undervalued compared to the average P/E of 28 in the communication services sector. As of Q2 2024, 48 hedge funds part of Insider Monkey’s database had stakes in Charter Communications.

Natixis Global Asset Management held the largest stake worth $1.89 billion. While Charter Communications presents a solid investment opportunity according to Warren Buffett’s criteria, other sectors, such as artificial intelligence, offer promise for higher returns within a shorter timeframe.

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About The Author

Kimberly Zhang

Editor in Chief of Under30CEO. I have a passion for helping educate the next generation of leaders. MBA from Graduate School of Business. Former tech startup founder. Regular speaker at entrepreneurship conferences and events.

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