• In the fourth quarter, total video, Internet and voice customers increased by 15,000, 300,000 and 53,000, respectively. Fourth quarter total residential and SMB customer relationships increased 206,000, compared to 243,000 during the fourth quarter of 2016, when excluding the impact of customer activity related to Legacy Bright House's seasonal customer plan in 2016.2
• Fourth quarter revenues of $10.6 billion grew 3.2%, as compared to the prior year period, driven by residential revenue growth of 4.0% and commercial revenue growth of 6.0%, partly offset by a decline in advertising revenue of 17.3%, due to lower political revenue.
• Fourth quarter Adjusted EBITDA3 of $4.0 billion grew 3.3% year-over-year, and 1.8% when excluding transition costs.
• For the year ended December 31, 2017, revenues rose to $41.6 billion, 3.9% higher than in 2016 on a pro forma basis. Adjusted EBITDA totaled $15.3 billion for the year ended December 31, 2017, an increase of 5.8% compared to 2016 on a pro forma basis. On an actual basis, full year 2017 revenues increased 43.4% and Adjusted EBITDA grew by 44.5%, driven primarily by the Transactions.
• Net income attributable to Charter shareholders totaled $9.6 billion in the fourth quarter, compared to $454 million during the same period last year. The increase was primarily driven by a non-cash GAAP3 tax benefit of $9.3 billion from a reduction in the deferred tax liability as a result of the enactment of the Tax Cuts and Jobs Act ("Federal tax reform") by Congress in December, which reduced the Federal tax rate from 35% to 21%. For the year ended December 31, 2017, net income attributable to Charter shareholders totaled $9.9 billion, compared to $1.1 billion on a pro forma basis in 2016 and $3.5 billionon an actual basis in 2016.
• Fourth quarter capital expenditures totaled $2.6 billion, and $2.4 billion when excluding transition capital expenditures. For the year ended December 31, 2017, capital expenditures totaled $8.7 billion. When excluding transition capital, full year 2017 capital expenditures totaled $8.2 billion.
• During the fourth quarter, Charter purchased approximately 13.5 million shares of Charter Class A common stock and Charter Holdings common units for approximately $4.7 billion. For the year ended December 31, 2017, Charter purchased approximately 38.2 million shares of Charter Class A common stock and Charter Holdings common units for approximately $13.2 billion.
"2017 was a transitional year for Charter. We accomplished our key goals of launching our pricing and packaging across our new company, and progressed as planned to unify our service delivery platform into a single entity from the multiple instances we inherited from our M&A transactions," said Tom Rutledge, Chairman and CEO of Charter Communications, Inc. "In 2018, we remain focused on completing our service integration and launching new products to accelerate customer relationship, revenue and EBITDA growth."