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Cable/Video

Charter added 2.M Internet subs, 19K video subs, 1.3M mobile lines in 2020

STAMFORD, Conn. – Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter") today reported financial and operating results for the three and twelve months ended December 31, 2020.

Key highlights:

  • As of December 31, 2020, Charter served a total of 31.1 million residential and small and medium business ("SMB") customers, with 1.9 million customers added in 2020 versus 1.1 million added in 2019. Charter added 197,000 total customer relationships in the fourth quarter, compared to 268,000 during the fourth quarter of 2019.
  • As of December 31, 2020, Charter served a total of 28.9 million residential and SMB Internet customers, with 2.2 million Internet customers added in 2020 versus 1.4 million added in 2019. Charter added 246,000 total Internet customers in the fourth quarter compared to 339,000 during the fourth quarter of 2019.
  • As of December 31, 2020, Charter served a total of 2.4 million mobile lines, with 1.3 million mobile lines added in 2020 versus 948,000 added in 2019. Charter added 315,000 mobile lines in the fourth quarter, compared to 288,000 during the fourth quarter of 2019.
  • Fourth quarter revenue of $12.6 billion grew by 7.3% year-over-year, driven by residential revenue growth of 5.0%, mobile revenue growth of 80.9% and advertising revenue growth of 43.9%.
  • Fourth quarter Adjusted EBITDA1 of $5.0 billion grew by 10.2% year-over-year.
  • For the year ended December 31, 2020, revenue of $48.1 billion increased by 5.1% year-over-year. Full year 2020 Adjusted EBITDA totaled $18.5 billion, 9.9% higher than in 2019.
  • Net income attributable to Charter shareholders totaled $1.2 billion in the fourth quarter, compared to $714 million during the same period last year. For the year ended December 31, 2020, net income attributable to Charter shareholders totaled $3.2 billion, compared to $1.7 billion in 2019.
  • Fourth quarter capital expenditures totaled $2.1 billion and included $157 million of mobile-related capital expenditures. For the year ended December 31, 2020, capital expenditures totaled $7.4 billion and included $508 million of mobile-related capital expenditures.
  • Full year 2020 free cash flow1 totaled $7.1 billion, compared to $4.6 billion in 2019.
  • During the fourth quarter, Charter purchased approximately 7.4 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $4.8 billion. For the year ended December 31, 2020, Charter purchased 21.1 million shares of Charter Class A common stock and Charter Holdings common units for approximately $12.1 billion.

In 2020, Charter added 1.8 million residential customer relationships versus 1.0 million added in 2019. During the fourth quarter of 2020, Charter's residential customer relationships grew by 167,000, while fourth quarter 2019 residential customer relationships increased by 240,000.

Charter added 2.1 million residential Internet customers in 2020, versus 1.3 million added in 2019. During the fourth quarter of 2020, Charter added 216,000 residential Internet customers versus fourth quarter 2019 net additions of 313,000, which is a function of lower sales activity caused by adding 1.9 million residential Internet customers in the prior three quarters as well as lower market churn, resulting in fewer selling opportunities in the fourth quarter.

Charter added 19,000 residential video customers in 2020, compared to a decline of 484,000 in 2019. Residential video customers decreased by 66,000 in the fourth quarter of 2020, while fourth quarter 2019 residential video customers decreased by 105,000.

In 2020, Charter's residential wireline voice customers declined by 228,000 versus a decline of 692,000 in 2019. During the fourth quarter of 2020, residential wireline voice customers declined by 120,000, while fourth quarter 2019 residential wireline voice customers declined by 152,000.

Charter added 93,000 SMB customer relationships in 2020, compared to 125,000 added in 2019. SMB customer relationships grew by 30,000 in the fourth quarter of 2020, while fourth quarter 2019 SMB customer relationships grew by 28,000. Enterprise PSUs grew by 7,000 in 2020 versus 19,000 added in 2019. During the fourth quarter of 2020, enterprise PSUs grew by 2,000, compared to growth of 3,000 in the fourth quarter of 2019.

In 2020, Charter added 1.3 million mobile lines versus 948,000 added in 2019. During the fourth quarter of 2020, Charter added 315,000 mobile lines, compared to 288,000 in the fourth quarter of 2019. Spectrum MobileTM is available to all new and existing Spectrum Internet customers and runs on America's most awarded LTE network combined with Spectrum WiFi. Spectrum Mobile customers can choose one of two simple ways to pay for data, "Unlimited" or "By the Gig." All plans include 4G and 5G access, with no added taxes, fees or contracts.

Read the full announcement here.

Charter/Spectrum

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