CLAIM #13967 · Charter Communications Inc (CHTR) · 2022Q3 earnings call · Oct 28, 2022 · due Dec 31, 2022
“Looking at the full year 2022, we now expect programming cost per video customer to grow in the low single-digit percentage range.”
Jessica Fischer · CFO
In context
“. Core ad revenue was flat year-over-year with lower national and local advertising revenue, offset by our growing advanced advertising capabilities. Mobile revenue totaled $750 million with $303 million of that revenue being device revenue. Other revenue declined by 2.1% year-over-year, primarily driven by lower video CPE sold to customers mostly offset by rural construction initiatives subsidies. In total, consolidated third quarter revenue was up 3.1% year-over-year. Moving to operating expenses and EBITDA on Slide 7. In Q3, total operating expenses grew by $278 million or 3.5% year-over-year. Programming costs declined by 3.8% year-over-year due to a decline in video customers of 3.8% year-over-year and a higher mix of lighter video packages, partly offset by higher programming rates. Looking at the full year 2022, we now expect programming cost per video customer to grow in the low single-digit percentage range. Regulatory connectivity and produced content declined 7.4% year-over-year, primarily driven by lower video CPE sold to customers. For the full year 2022, we now expect regulatory connectivity and produced content expense to decline in the mid- to high single-digit percentage range. Cost to service customers increased by 4.4% year-over-year. Excluding bad debt from both years, cost to service customers grew by 3%, primarily due to higher fuel and freight costs, partly offset by productivity improvements. And while bad debt and non-pay churn were higher year-over-year, both remain well below pre-COVID levels. We now expect cost to service customers expense growth for the second half of 2022 to be more consistent with growth in the first half of 2022. Marketing expenses grew by 9.3% year-ove”
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SEC filings for CHTR ↗ · Claim quote is verbatim from the 2022Q3 earnings call.