CHTR 2Q24 Quick Take: Subscribers and EBITDA beat
Results were better than expected on broadband adds, EBITDA and FCF. The two big risks of broadband market growth and ACP have been circumscribed. The short thesis has been largely defanged. We touch briefly on the following:1. Charter’s broadband trends
2. Progress in rural markets
3. Broadband market growth
4. Broadband ARPU growth
5. Wireless ARPU growth
6. EBITDA growth
7. Bad debt expense
8. FCF and Leverage
9. What to do with the stock
Charter Communications is a holding company. Through its subsidiaries, the company is a cable operator and a broadband communications company providing video, Internet and voice services. The company also provides its mobile service to residential customers. In addition, the company sells video and online advertising inventory to local, regional and national advertising customers and communications and managed solutions to enterprise customers. The company also owns and operates regional sports networks and local sports, news and community channels. The company owns and operates a two-way telecommunications network which passes various households and small and medium businesses across United States.
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