STAMFORD, Conn. -- Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter") today reported financial and operating results for the three and nine months ended September 30, 2019.
- Third quarter total residential and SMB customer relationships increased 310,000, compared to 234,000 during the third quarter of 2018. As of September 30, 2019, Charter had 29.0 million total customer relationships, and added over 1.1 million net new customer relationships over the last twelve months.
- During the third quarter, Charter generated residential and SMB Internet net additions of 380,000, video net losses of 75,000 and wireline voice net losses of 190,000.
- Charter added 276,000 mobile lines in the third quarter, compared to 208,000 mobile line net additions in the second quarter of 2019. As of September 30, 2019, Charter served a total of 794,000 mobile lines.
- Third quarter revenue of $11.5 billion grew 5.1%, as compared to the prior year period, driven by residential revenue growth of 4.4%, mobile revenue growth of $175 million and commercial revenue growth of 4.1%.
- Third quarter Adjusted EBITDA1 of $4.1 billion grew 3.4% year-over-year, while third quarter cable Adjusted EBITDA1 of $4.2 billion grew 5.0% year-over-year.
- Net income attributable to Charter shareholders totaled $387 million in the third quarter, compared to $493 million during the same period last year. The year-over-year decrease in net income attributable to Charter shareholders was primarily driven by a pension remeasurement gain in the third quarter of 2018, partly offset by higher Adjusted EBITDA.
- Third quarter capital expenditures totaled $1.7 billion compared to $2.1 billion during the third quarter of 2018. Third quarter capital expenditures included $100 million of mobile-related capital expenditures.
- Consolidated free cash flow1 for the third quarter of 2019 totaled $1.3 billion, compared to $532 million during the same period last year. Cable free cash flow1 for the third quarter totaled $1.5 billion, compared to $681 million during the same period last year.
- During the third quarter, Charter purchased approximately 7.8 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $3.1 billion.
"Our strategy of offering high-quality products with good service at attractive prices is working and continues to produce strong customer relationship growth," said Tom Rutledge, Chairman and CEO of Charter Communications. "In the third quarter, customer relationship growth continued to accelerate and our operating strategy keeps us well-positioned to take advantage of the growth opportunity in front of Charter."