Business
Charter Announces Third Quarter 2021 Results
STAMFORD, Conn., Oct. 29, 2021 /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., Oct. 29, 2021 /PRNewswire/ -- 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, 2021.\n\n \n \n \n \n \n \n\n \nKey highlights:\nThird quarter total residential and small and medium business (\"SMB\") customer relationships increased by 185,000. As of September 30, 2021, Charter served a total of 31.9 million residential and SMB customers, with 1.0 million net new customer relationships added over the last twelve months. Third quarter total residential and SMB Internet customers increased by 265,000. As of September 30, 2021, Charter served a total of 29.9 million residential and SMB Internet customers, with 1.3 million total Internet customers added over the last twelve months. Third quarter total residential and SMB mobile lines increased by 244,000. As of September 30, 2021, Charter served a total of 3.2 million mobile lines, with 1.1 million mobile lines added over the last twelve months. Third quarter revenue of $13.1 billion grew by 9.2% year-over-year, driven by residential revenue growth of 9.4%, mobile revenue growth of 45.4% and commercial revenue growth of 7.1%. Third quarter Adjusted EBITDA1 of $5.3 billion grew by 13.9% year-over-year. Net income attributable to Charter shareholders totaled $1.2 billion in the third quarter. Third quarter capital expenditures totaled $1.9 billion and included $119 million of mobile-related capital expenditures. Third quarter free cash flow1 of $2.5 billion grew by 41.2% year-over-year. During the third quarter, Charter purchased approximately 5.3 million shares of Charter Class A common stock and Charter Communications Holdings, LLC (\"Charter Holdings\") common units for approximately $4.0 billion.\"The value of our connectivity products allowed us to add over 1 million customer relationships over the last year,\" said Tom Rutledge, Chairman and CEO of Charter. \"Looking forward, we remain focused on improving both the quality and value of our products as demand for more advanced services grows. As data usage both inside and outside the home continues to increase, so do our network and product capabilities. We remain confident in our ability to grow customers, EBITDA and free cash flow for many years to come.\"\n1.\nAdjusted EBIT...