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CLAIM #13969 · Charter Communications Inc (CHTR) · 2022Q3 earnings call · Oct 28, 2022 · due Dec 31, 2022

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.

Jessica Fischer · CFO

PENDING
graded after results covering Dec 31, 2022 are reported

In context

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-over-year, primarily due to higher staffing levels and wages, as Charter focuses on providing better service to new and existing customers. For the full year 2022, we now expect marketing expense to grow in the high single-digit percentage range. Mobile expenses totaled $846 million and were comprised of mobile device cost tied to device revenue, customer acquisition and service and operating costs. And other expenses increased by 4.4%, primarily driven by higher labor costs, higher advertising sales expense related to political revenue and higher computer and software expense, partly offset by lower corporate costs this quarter. Adjusted EBITDA grew by 2.4% year-over-year in the quarter. Turning to net income on Slide 8. We generated $1.2 billion of n

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SEC filings for CHTR · Claim quote is verbatim from the 2022Q3 earnings call.