CLAIM #13970 · Charter Communications Inc (CHTR) · 2022Q3 earnings call · Oct 28, 2022 · due Dec 31, 2022
“For the full year 2022, we now expect marketing expense to grow in the high single-digit percentage range.”
Jessica Fischer · CFO
In context
“e 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 net income attributable to Charter shareholders in the third quarter, essentially flat with last year, with higher adjusted EBITDA offset by higher interest expense. Turning to Slide 9. Capital expenditures totaled $2.4 billion in the third quarter, above last year's third quarter spe”
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SEC filings for CHTR ↗ · Claim quote is verbatim from the 2022Q3 earnings call.