"Mobile growth -- Spectrum Mobile added 493,000 lines in the quarter, representing over 20% annual growth and nearly 2 million lines added over the past 12 months. Internet and video subscriber results -- Internet customer losses totaled 109,000, unchanged from the prior year, while video losses improved to 70,000 versus 294,000 in the previous year's third quarter. Consolidated revenue performance -- Consolidated revenue declined 0.9% year-over-year but would have increased 0.4% excluding advertising and streaming app allocations."
"Net income decline - 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. 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. Internet customers declined by 109,000 and video customers declined by 70,000, representing a 2.1% decrease in residential customers. Third-quarter advertising revenue declined 21%. Spectrum Mobile added 493,000 lines, representing over 20% annual growth and nearly 2 million lines over the past 12 months. Programming costs declined 6.5% year-over-year. EBITDA growth in the fourth quarter will be pressured by prior-year political advertising strength and ongoing macro pressures.
Read at The Motley Fool
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