Press release
Charter Announces Fourth Quarter and Full Year 2022 Results
STAMFORD, Conn., Jan. 27, 2023 /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. 27, 2023 /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, 2022.\n\n \n \n \n \n \n \n\n \nFourth quarter total residential and small and medium business (\"SMB\") Internet customers increased by 105,000. As of December 31, 2022, Charter served a total of 30.4 million residential and SMB Internet customers, with 344,000 total Internet customers added in 2022.Fourth quarter total residential and SMB mobile lines increased by 615,000. As of December 31, 2022, Charter served a total of 5.3 million mobile lines, with 1.7 million mobile lines added in 2022.As of December 31, 2022, Charter had a total of 32.2 million residential and SMB customer relationships, which excludes mobile-only relationships.Fourth quarter revenue of $13.7 billion grew by 3.5% year-over-year, driven by mobile revenue growth of 38.7%, advertising sales revenue growth of 24.6% and commercial revenue growth of 3.3%.Net income attributable to Charter shareholders totaled $1.2 billion in the fourth quarter. For the year ended December 31, 2022, net income attributable to Charter shareholders totaled $5.1 billion.Fourth quarter Adjusted EBITDA1 of $5.5 billion grew by 1.9% year-over-year.For the year ended December 31, 2022, revenue of $54.0 billion grew by 4.5% year-over-year. Full year 2022 Adjusted EBITDA totaled $21.6 billion, 4.8% higher than in 2021.For the year ended December 31, 2022, capital expenditures totaled $9.4 billion and included $3.0 billion of line extensions, reflecting Charter's commitment to its rural construction initiative.Full year 2022 net cash flows from operating activities totaled $14.9 billion, compared to $16.2 billion in the prior year. The year-over-year decline was primarily due to higher cash taxes.Full year 2022 free cash flow1 of $6.1 billion decreased from $8.7 billion in the prior year, due to capital expenditures associated with Charter's rural construction initiative and higher cash taxes.During the fourth quarter, Charter purchased 3.6 million shares of Charter Class A common stock and Charter Communications Holdings, LLC (\"Charter Holdings\") common units for approximately $1.3 billion. For the year ended December 31, 2022, Charter purchased 23.8 m...