Charter said it lost 72,000 Internet customers in Q1 2024 while adding 486,000 mobile lines. The company cited the competitive environment, lower customer move rates and the restriction on adding new customers to the Federal Communications Commission's Affordable Connectivity Program (ACP) after February 7, 2024 as factors affecting Internet customer growth.

10-QQuarterly reportFiled Apr 26, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Charter said it lost 72,000 Internet customers in Q1 2024 while adding 486,000 mobile lines. The company cited the competitive environment, lower customer move rates and the restriction on adding new customers to the Federal Communications Commission's Affordable Connectivity Program (ACP) after February 7, 2024 as factors affecting Internet customer growth.
Charter said total revenue for Q1 2024 increased $26 million from the year-earlier period. It cited growth in residential mobile service, residential Internet and advertising sales revenue as the main drivers. The company said lower residential video revenue partly offset these gains.
The company said free cash flow was $358 million for Q1 2024 and $664 million for Q1 2023. It said the decrease was driven by higher $306 million, including capital expenditures, cash paid for interest, net, and cash paid for taxes, and that the increase in Adjusted EBITDA partly offset it.
As of March 31, 2024, Charter said its principal debt amount was $97.8 billion and its leverage ratio was 4.4 times Adjusted EBITDA. The company also said it expects capital expenditures for 2024 to be $12.2 billion to $12.4 billion for the full year.

Key figures

Quarter ended March 31, 2024

Revenue: $13.7B
Operating income: $3.1B
Net income: $1.1B
EPS: $7.55
Operating cash flow: $3.2B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 Internet Customers Fall, Mobile Lines Rise

Charter said it lost 72,000 Internet customers in Q1 2024 while adding 486,000 mobile lines. The company cited the competitive environment, lower customer move rates and the restriction on adding new customers to the Federal Communications Commission's Affordable Connectivity Program (ACP) after February 7, 2024 as factors affecting Internet customer growth.

Source · Based on the MD&A text of the filing

Q1 Total Revenue Up $26 million on Mobile, Internet and Advertising

Charter said total revenue for Q1 2024 increased $26 million from the year-earlier period. It cited growth in residential mobile service, residential Internet and advertising sales revenue as the main drivers. The company said lower residential video revenue partly offset these gains.

Source · Based on the MD&A text of the filing

Q1 free cash flow $358 million, compared with $664 million a year earlier

The company said free cash flow was $358 million for Q1 2024 and $664 million for Q1 2023. It said the decrease was driven by higher $306 million, including capital expenditures, cash paid for interest, net, and cash paid for taxes, and that the increase in Adjusted EBITDA partly offset it.

Source · Based on the MD&A text of the filing

Debt of $97.8 billion as of March 31, 2024 and Full-Year Capex Outlook

As of March 31, 2024, Charter said its principal debt amount was $97.8 billion and its leverage ratio was 4.4 times Adjusted EBITDA. The company also said it expects capital expenditures for 2024 to be $12.2 billion to $12.4 billion for the full year.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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