Financial Performance - Fourth quarter total revenue increased by 1.6% year-over-year to 13.9billion,drivenbyresidentialmobileservicerevenuegrowthof37.45.8 billion, reflecting a year-over-year growth of 3.4%[3][10] - For the year ended December 31, 2024, net income attributable to Charter shareholders totaled 5.1billion,withfourthquarternetincomeat1.5 billion, a 38.6% increase year-over-year[3][10] - Fourth quarter advertising sales revenue of 540millionincreasedby26.45,853 million, up from 5,261millionin2023[56]−BasicearningspershareforQ42024was10.32, a 42.9% increase from 7.23inQ42023[51]CustomerMetrics−AsofDecember31,2024,Charterserved30.1millionInternetcustomers,adecreaseof177,000inthefourthquarter,primarilyduetotheendoftheFCC′sAffordableConnectivityProgramandhurricaneimpacts[3][6]−Totalcustomerrelationshipsdecreasedby215inQ42024,downfromadecreaseof149inQ32024andadecreaseof110inQ42023,resultinginatotalof31,473customerrelationships[59]−Residentialcustomerrelationshipspenetrationdroppedto55.4860 million, up from 626millioninQ42023[48]−Commercialrevenueincreasedby1.91.8 billion, driven by enterprise and SMB revenue growth of 4.4% and 0.3% year-over-year, respectively[19] - Other revenue totaled 884millioninthefourthquarter,anincreaseof14.63.1 billion, including 4.2billionforlineextensionsthroughout2024[3][10]−Capitalexpenditurestotaled3.1 billion in the fourth quarter of 2024, an increase of 206millioncomparedtothefourthquarterof2023[28]−Charterexpectsfullyear2025capitalexpenditurestototalapproximately12 billion, including line extensions capital expenditures of approximately 4.2billion[29]−TotalcapitalexpendituresforQ42024were3,062 million, an increase from 2,856millioninQ42023,withtotalcapitalexpendituresfortheyearreaching11,269 million compared to 11,115millionin2023[61]−Totallineextensionscapitalexpenditureswere1,057 million in Q4 2024, compared to 978millioninQ42023,withtotallineextensionsfortheyearreaching4,216 million compared to 4,015millionin2023[61]CashFlowandDebt−Fullyear2024freecashflowincreasedto4.3 billion from 3.5billionintheprioryear,primarilyduetohigherAdjustedEBITDA[3][10]−Freecashflowinthefourthquarterof2024totaled984 million, a decrease of 77millioncomparedtothefourthquarterof2023[31]−AsofDecember31,2024,totalprincipalamountofdebtwas93.8 billion, with additional liquidity of approximately 6.3billion[32]−Long−termdebtdecreasedto92,134 million from 95,777millionyear−over−year[54]OperationalEfficiency−Operatingcostsdecreasedby9.1121.40 in Q4 2024, slightly down from 121.47inQ32024andupfrom119.41 in Q4 2023[59] Brand and Market Strategy - Spectrum launched a new brand platform, "Life Unlimited," in September 2024, focusing on advanced network capabilities and simplified pricing strategies[5] - Charter activated 117,000 subsidized rural passings in the fourth quarter, contributing to a total of 393,000 in 2024, as part of efforts to expand Internet access to underserved communities[8]
Charter Communications(CHTR)2025-01-31 12:01