Charter, Trialing CBRS, Sees Broader 2024 Rollout

Charter Communications has fully rolled out use of citizens broadband radio service band spectrum in one market for offloading mobile traffic from its mobile virtual network operator agreement with Verizon, with plans for a broader CBRS rollout next year, CEO Chris Winfrey said Friday as the company announced Q2 earnings. Charter ended the quarter with 6.6 million residential and small-business mobile lines. Winfrey said more than 11% of its internet customers have its mobile service, and the mobile penetration should sizably grow over the next several years. It ended Q2 2022 with 4.3 million total mobile lines. Charter hopes to land "significant" broadband equity, access and deployment program funding, Winfrey said. BEAD rules are notably different from broadband programs in states where Charter operates, and the company will work with governments on rules "still conducive to private investment," he said. Charter is doing trials of its Xumo video platform, offering unified search across linear and direct-to-consumer offerings, with deployment later this year, Winfrey said. Chief Financial Officer Jessica Fischer said Charter remains on track for 300,000 additional state-subsidized rural passings this year. She said Charter expects to spend $4 billion this year on line extension work, with similar spending likely in 2024 and 2025. Charter had Q2 revenue of $13.7 billion, essentially flat year over year, with internet and mobile service revenue growth offset by declines in video and voice service revenue. It ended the quarter with 28.5 million residential internet customers, up about 300,000 from the same quarter a year earlier; 14.1 million residential video subs, down 780,000; and 7.2 million residential voice subs, down 1 million.