Charter doubles profit on strong customer additions in Q2

Friday 31 July 2020 | 14:17 CET | News
US operator Charter Communications more than doubled its net profit in the second quarter, boosted by strong customer additions and past investments made over the past into its infrastructure. 

Revenues advanced 3.1 percent year-on-year to USD 11.7 billion, driven by residential growth of 4.1 percent, a mobile revenue leap of 96.1 percent and SMB revenue growth of 2.0 percent. The adjusted EBITDA lifted 7.3 percent to USD 4.5 billion while the net profit soared to USD 766 million from 314 million. Capex increased to 1.9 billion, including USD 125 million worth of mobile-related capex, from 1.5 billion in the previous quarter. The free cash flow rose to USD 1.9 billion from 1.4 billion quarter-on-quarter and 1.1 billion year-on-year. 

The number of customer relationships climbed 6.3 percent year-on-year to 30.476 million, from 29.721 million in the previous quarter and 28.657 million year-on-year. Net additions for the quarter went to 751,000 for residential, from 468,000 in Q1 and 164,000 year-on-year. For SMBs, additions slowed to 4,000 from 18,000 in Q1 and 39,000 the year before. This put total customer relations at 755,000 from 486,000 quarter-on-quarter and 203,000 year-on-year. 

For Video, net additions went to 102,000 in the quarter, from losses of 70,000 in Q1 and of 150,000 the year earlier. For Internet, gains jumped to 842,000 from 563,000 in Q1 and 221,000 the year before. For voice, additions amounted to 38,000 from losses of 83,000 in the previous quarter and of 207,000 the previous year.  

Single play penetration went higher to 44.0 percent from 43.6 percent in Q1 and 42.4 percent the year before.  For double play, penetration went to 31.7 percent from 31.2 percent and 28.8 percent respectively, while for triple play, it declined to 24.3 percent from 25.2 percent and 28.8 percent. Finally, the number of mobile lines added went to 270,000 from 290,000 and 258,000, respectively.

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Categories: Fixed
Companies: Charter Communications
Countries: United States
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