""EBITDA growth in the fourth quarter will be pressured by at least as much as it was in the third quarter, given last year's political advertising strength and the same macro pressures we saw in the third quarter.""
""our third-quarter internet customer losses were in line with last year.""
"Net income attributable to Charter shareholders decreased to $1.1 billion from $1.3 billion, driven by lower adjusted EBITDA and higher operating expenses, including merger and severance costs. Continued customer losses - Chris Winfrey confirmed, "our third-quarter internet customer losses were in line with last year." Jessica Fischer reported a decline of 109,000 internet customers and 70,000 video customers, and a 2.1% decrease in residential customers."
Consolidated revenue declined 0.9% year-over-year but would have increased 0.4% excluding advertising and streaming app allocations. Adjusted EBITDA declined 1.5% year-over-year and was effectively flat excluding advertising; total operating expenses decreased 0.5%. Net income attributable to Charter shareholders fell to $1.1 billion from $1.3 billion due to lower adjusted EBITDA and higher operating expenses, including merger and severance costs. Internet customers declined by 109,000 and video customers by 70,000, with a 2.1% drop in residential customers. Third-quarter advertising revenue declined 21%. Spectrum Mobile added 493,000 lines, exceeding 20% annual growth and nearly 2 million lines over 12 months. Programming costs fell 6.5% year over year amid lower video subscribers. Management expects fourth-quarter EBITDA to be pressured by political advertising comparisons and macroeconomic headwinds.
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