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Charter's (CHTR) Spectrum Expands Operations in Loudon County
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Charter Communications’ (CHTR - Free Report) Spectrum has been awarded a Tennessee Emergency Broadband Fund – American Rescue Plan (TEB-ARP) grant of over $2.9 million. According to the grant, the company would deliver gigabit high-speed internet access to nearly 1,000 homes and small businesses in Loudon County, Tennessee.
Along with the state grant, Spectrum is investing $2.2 million in funding, bringing the total project investment to $5.2 million.
The current grant provided is the latest among the six awarded to Spectrum to expand fiber-optic broadband infrastructure to areas in the state lacking high-speed connections. These grants will help Spectrum provide its services to an additional 6,200 homes and small businesses in 6 counties across Tennessee.
Spectrum currently serves 524,000 customers in Tennessee. Spectrum is looking to expand its current customer base as it has started constructing a fiber-optic network, bringing its services to more than 4700 homes and small businesses in Wexford County, Michigan.
Spectrum is delivering its TV services across Wisconsin with more than 200 HD channels and access to 85,000 on-demand movies and shows. Viewers can stream content across platforms like Kindle Fire, Samsung Smart TVs and Apple’s (AAPL - Free Report) Apple TV and Spectrum Originals using the Spectrum TV App.
Spectrum recently unveiled Spectrum Internet, Mobile, TV and Voice services to more than 540 homes and small businesses in the Northwoods regions of Arbor Vitae, Woodruff, Three Lakes and the Town of Piehl, WI.
Spectrum Expands Operations in Rural Areas to Boost Prospects
Charter’s shares have lost 50.4% in the year-to-date period compared with the Zacks Cable Television industry’s decline of 44.3%.
CHTR experienced slow top-line growth in the second quarter of 2022. It reported revenues of $13.598 billion, which increased 6.2% on a year-over-year basis.
Growth slowed down due to lower new activation of Internet users. CHTR had 30.253 million Internet customers in the second quarter of 2022, up 2.1% year over year. Charter lost 21K Internet customers in the last reported quarter.
Also, CHTR lost 226,000 video customers in the second quarter, with the market being mostly saturated. The space is dominated by big streaming service providers like Netflix (NFLX - Free Report) and Amazon Prime Video, heightening Charter’s competition to grab a decent market share.
Netflix has been aggressively building its original content portfolio and is still enjoying its leading position in the streaming industry. It is the most prominent competitor of CHTR in the video-streaming space.
CHTR has collaborated with Comcast (CMCSA - Free Report) to develop and offer a new streaming platform on various branded 4K streaming devices and smart TVs. The joint venture will provide CHTR with Comcast’s Flex and hardware, helping it attract new customers to counter competition.
As viewers stream from other platforms on the Spectrum TV app, CHTR will benefit from its strategic offering of Apple TV services to its customers.
Apple TV+ has recently broken records with 52 Emmy Award nominations across 13 titles and has boosted its total number of Emmy Award nominations by more than 40% year over year in under three years since its global launch.
The availability of Apple TV and other streaming platforms on its TV app will help Charter ward off competition from Netflix and Amazon. As of Jun 30, 2022, CHTR had 32.124 million total customer relationships, up 1.1% year over year.
Charter’s recent strategy to expand operations at Loudon County highlights its strategy to invest $5 billion in constructing a fiber-optic network buildout. This will help provide broadband access to approximately 1 million customer locations across 24 states in the coming years. This, in turn, is expected to expand this Zacks Rank #3 (Hold) company’s customer base extensively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Charter's (CHTR) Spectrum Expands Operations in Loudon County
Charter Communications’ (CHTR - Free Report) Spectrum has been awarded a Tennessee Emergency Broadband Fund – American Rescue Plan (TEB-ARP) grant of over $2.9 million. According to the grant, the company would deliver gigabit high-speed internet access to nearly 1,000 homes and small businesses in Loudon County, Tennessee.
Along with the state grant, Spectrum is investing $2.2 million in funding, bringing the total project investment to $5.2 million.
The current grant provided is the latest among the six awarded to Spectrum to expand fiber-optic broadband infrastructure to areas in the state lacking high-speed connections. These grants will help Spectrum provide its services to an additional 6,200 homes and small businesses in 6 counties across Tennessee.
Spectrum currently serves 524,000 customers in Tennessee. Spectrum is looking to expand its current customer base as it has started constructing a fiber-optic network, bringing its services to more than 4700 homes and small businesses in Wexford County, Michigan.
Spectrum is delivering its TV services across Wisconsin with more than 200 HD channels and access to 85,000 on-demand movies and shows. Viewers can stream content across platforms like Kindle Fire, Samsung Smart TVs and Apple’s (AAPL - Free Report) Apple TV and Spectrum Originals using the Spectrum TV App.
Spectrum recently unveiled Spectrum Internet, Mobile, TV and Voice services to more than 540 homes and small businesses in the Northwoods regions of Arbor Vitae, Woodruff, Three Lakes and the Town of Piehl, WI.
Charter Communications, Inc. Price and Consensus
Charter Communications, Inc. price-consensus-chart | Charter Communications, Inc. Quote
Spectrum Expands Operations in Rural Areas to Boost Prospects
Charter’s shares have lost 50.4% in the year-to-date period compared with the Zacks Cable Television industry’s decline of 44.3%.
CHTR experienced slow top-line growth in the second quarter of 2022. It reported revenues of $13.598 billion, which increased 6.2% on a year-over-year basis.
Growth slowed down due to lower new activation of Internet users. CHTR had 30.253 million Internet customers in the second quarter of 2022, up 2.1% year over year. Charter lost 21K Internet customers in the last reported quarter.
Also, CHTR lost 226,000 video customers in the second quarter, with the market being mostly saturated. The space is dominated by big streaming service providers like Netflix (NFLX - Free Report) and Amazon Prime Video, heightening Charter’s competition to grab a decent market share.
Netflix has been aggressively building its original content portfolio and is still enjoying its leading position in the streaming industry. It is the most prominent competitor of CHTR in the video-streaming space.
CHTR has collaborated with Comcast (CMCSA - Free Report) to develop and offer a new streaming platform on various branded 4K streaming devices and smart TVs. The joint venture will provide CHTR with Comcast’s Flex and hardware, helping it attract new customers to counter competition.
As viewers stream from other platforms on the Spectrum TV app, CHTR will benefit from its strategic offering of Apple TV services to its customers.
Apple TV+ has recently broken records with 52 Emmy Award nominations across 13 titles and has boosted its total number of Emmy Award nominations by more than 40% year over year in under three years since its global launch.
The availability of Apple TV and other streaming platforms on its TV app will help Charter ward off competition from Netflix and Amazon. As of Jun 30, 2022, CHTR had 32.124 million total customer relationships, up 1.1% year over year.
Charter’s recent strategy to expand operations at Loudon County highlights its strategy to invest $5 billion in constructing a fiber-optic network buildout. This will help provide broadband access to approximately 1 million customer locations across 24 states in the coming years. This, in turn, is expected to expand this Zacks Rank #3 (Hold) company’s customer base extensively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.