How did the broadband industry perform in the first quarter of 2024?
The first quarter of the 2024 earnings reporting season has begun, and the Broadband Technology Report is tracking how key players in the optical networking industry performed. Please check here for updates on this segment's providers, vendors and integrators.
Also, check out how Lightwave tracks the first quarter of 2024 results of the major players in the optical networking industry.
April 23
Verizon
www.verizon.com
Verizon’s ongoing fiber and wireless broadband build efforts resonated in the first quarter of 2024 as the telco added a total of 389,000 new broadband subscribers, including 53,000 Fios Internet net adds.
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- here’s Lightwave’s coverage
Calix
www.calix.com
Calix reported $226.3 million in first-quarter earnings, which were in line with its January guidance.
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April 24
AT&T
www.att.com
AT&T added 252,000 new AT&T Fiber subscribers in the first quarter driving up broadband revenues 7.7%.
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- here’s Lightwave’s coverage
April 25
Comcast
www.comcast.com
Comcast reported a first-quarter revenue of $30 billion, up 1.2% on gains in residential broadband and commercial business services.
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April 26
Charter
www.charter.com
Charter reported that first-quarter revenue rose 0.2% year-over-year to $13.7 billion, driven by growth in residential mobile service, residential Internet, and advertising sales revenues, partly offset by lower residential video revenue.
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April 29
Harmonic
www.harmonic.com
April 30
Corning
www.corning.com
Corning continued to battle service provider revenue headwinds in the first quarter, reporting Optical Communications sales of $930 million, down 17% year over year.
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Lumen
www.lumen.com
During the quarter, Lumen reported broadband revenue grew 11.8%, representing approximately 35% of the Mass Markets segment broadband revenue.
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May 2
Altice USA
Altice USA reported total first-quarter revenues of $2.3 billion, down 1.9% year-over-year.
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Cable One
www.sparklight.com
Cable One’s total revenues for the quarter were $404.3 million, down from $421.9 in Q1 2023. This decline was attributed to losses in video subscribers, with residential video revenues decreasing $9.9 million or 14.1% year-over-year.
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Clearfield
www.seeclearfield.com
Clearfield reported total net sales for its second fiscal quarter were $36.9 million, a 49% decrease year-over-year but above the company’s guidance range, attributed to higher-than-expected sales in the community broadband customer segment.
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May 3
Frontier
www.frontier.com
Frontier reported revenues of $1.46 billion, a 2% increase from the year-ago period and beating analysts' expectations of $1.44 billion. Fiber-based broadband services are a big part of Frontier’s revenue mix.
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- here’s Lightwave’s coverage
Shentel
www.shentel.com
Shentel’s Horizon acquisition bolsters its FTTH expansion efforts to reach more markets.
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TDS Telecom
TDS Telecom continues to expand its footprint and has achieved its projected broadband penetration.
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May 6
Adtran
www.adtran.com
Adtran reported that the company’s first-quarter revenues—$226.2 million—were just above the midpoint of the guidance range.
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May 9
CommScope
www.commscope.com
CommScope delivered net sales of $1.2 billion for the first quarter, a decrease of 30% year-over-year as inventory buildup hindered the company's revenue growth.
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