Charter Communications announced results for the second quarter that surpassed expectations, fueled by a strong demand for its mobile offerings. The firm recorded earnings per share of $8.49 and total revenues of $13.69 billion, reflecting a slight increase of 0.23%. The largest segment for Charter, internet services, achieved a revenue rise of 1.3% to $5.81 billion.
Revenue from mobile services surged by 36.9%, reaching $737 million. The company is implementing strategies to enhance its EBITDA in the second half of 2024 through various cost-reduction initiatives.
Charter Observes Revenue Uplift in Q2
The company is targeting stable EBITDA for 2025. With a P/E ratio of 9.24, Charter appears potentially undervalued in comparison to the communication services industry’s average P/E of 28. By Q2 2024, 48 hedge funds within Insider Monkey’s database had investments in Charter Communications.
Natixis Global Asset Management held the largest stake, valued at $1.89 billion. While Charter Communications aligns with Warren Buffett’s investment principles, other sectors, particularly artificial intelligence, present potential for higher short-term returns.
