Charter Communications reported better-than-expected results for the second quarter, driven by significant demand for its mobile services. The company posted earnings per share of $8.49 and overall revenues of $13.69 billion, marking a modest growth of 0.23%. Charter’s biggest segment, internet services, posted a 1.3% revenue gain to $5.81 billion.
Mobile service revenue jumped 36.9% to $737 million. The company is working to improve its EBITDA in the latter part of 2024 through cost-cutting measures.
Charter sees Q2 revenue growth
It aims for steady EBITDA throughout 2025. Charter’s P/E ratio of 9.24 suggests it might be undervalued compared to the average P/E of 28 in the communication services sector. As of Q2 2024, 48 hedge funds part of Insider Monkey’s database had stakes in Charter Communications.
Natixis Global Asset Management held the largest stake worth $1.89 billion. While Charter Communications presents a solid investment opportunity according to Warren Buffett’s criteria, other sectors, such as artificial intelligence, offer promise for higher returns within a shorter timeframe.
