Charter Communications CEO Tom Rutledge praised its wireless subscriber gains in Q2 and even went so far as to claim the cable operator was a mobile company during the earnings call.
Rutledge noted Charter Communications currently has 450 million wireless devices connected to its network and all of the company’s products would be delivered wirelessly in future.
Charter Communications added 344,000 mobile lines compared with 265,000 in Q2 2021.
It ended June with a total of 4.3 million mobile lines including residential customers and small businesses.
Charter Communications posted mobile revenue of $726 million, up 39.8 per cent, but costs increased 35.9 per cent to $797 million on higher device, customer acquisition, and service and operating expenditure.
Net income of $1.5 billion was up 44.2 per cent, with revenue 6.2 per cent higher at $13.6 billion, driven in part by growth in residential, mobile and commercial turnover.
MoffetNathanson analyst Craig Moffett noted there is a bigger opportunity for cable operators in the MVNO space than for mobile operators in broadband, after T-Mobile US claimed recent gains in fixed wireless access were fuelled by customers switching.