Business
Charter Announces Fourth Quarter 2019 Results
STAMFORD, Conn., Jan. 31, 2020 /PRNewswire/ -- Charter Communications, Inc. (along with its subsidiaries, the "Company" or "Charter") today reported financial
About this update from Charter Communications, Inc.
[{"type":"text","content":"STAMFORD, Conn., Jan. 31, 2020 /PRNewswire/ -- 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, 2019.\n\n \n \n\n \nKey highlights:\nFourth quarter total residential and SMB customer relationships increased by 268,000, compared to 248,000 during the fourth quarter of 2018. Fourth quarter total residential and SMB Internet customers increased by 339,000, compared to 329,000 during the fourth quarter of 2018. During the year ended December 31, 2019, total residential and SMB customer relationships grew by 1.1 million, or 4.0% to 29.2 million, and total residential and SMB Internet customers grew by 1.4 million, or 5.6% to 26.7 million. Charter added 288,000 Spectrum MobileTM lines in the fourth quarter and as of December 31, 2019, Charter served a total of 1.1 million mobile lines, with 948,000 mobile lines added in 2019. Fourth quarter revenue of $11.8 billion grew by 4.7% year-over-year, driven by residential revenue growth of 5.7%, mobile revenue growth of $147 million and SMB revenue growth of 6.3%. Fourth quarter Adjusted EBITDA1 of $4.5 billion grew by 8.8% year-over-year, while fourth quarter cable Adjusted EBITDA1 of $4.7 billion grew by 8.9% year-over-year. For the year ended December 31, 2019, revenue of $45.8 billion increased by 4.9% year-over-year. Full year 2019 Adjusted EBITDA totaled $16.9 billion, 5.0% higher than in 2018, while cable Adjusted EBITDA of $17.4 billion grew by 6.6% year-over-year. Net income attributable to Charter shareholders totaled $714 million in the fourth quarter, compared to $296 million during the same period last year. For the year ended December 31, 2019, net income attributable to Charter shareholders totaled $1.7 billion, compared to $1.2 billion in 2018. Fourth quarter capital expenditures totaled $2.3 billion and included $151 million of mobile-related capital expenditures. For the year ended December 31, 2019, capital expenditures totaled $7.2 billion, down from $9.1 billion in 2018, and included $432 million of mobile-related capital expenditures. For the year 2019, consolidated free cash flow1 totaled $4.6 billion, compared to $2.2 billion in 2018. Cable free cash flow1 totaled $5.8 billion for the full year 2019, versus $2.8 billion in 2018. D...