CLAIM #14023 · Charter Communications Inc (CHTR) · 2023Q1 earnings call · Apr 28, 2023 · due Apr 28, 2024
“And given the issues with fixed wireless product feeds, as confirmed by third-parties and questions surrounding that product’s reliability and scalability, we expect fixed wireless customers to find their way back to us over time.”
Jessica Fischer · CFO
In context
“o our customer results on Slide 5. Including residential and SMB, we added 76,000 Internet customers in the first quarter. Video customers declined by $241,000 partly driven by a programming expense increase passed through in January of this year. Wireline voice declined by $220,000 and we added a record 686,000 mobile lines. Although our Internet customer growth continued to be positive in the first quarter, market activity levels remain low. During the quarter, total churn was slightly higher than last year, but still near record lows and well below pre-pandemic levels. We have seen a small impact from fixed wireless access competitors in the price-sensitive customer segment. Generally speaking, however, these customers typically exhibit higher levels of churn regardless of competition. And given the issues with fixed wireless product feeds, as confirmed by third-parties and questions surrounding that product’s reliability and scalability, we expect fixed wireless customers to find their way back to us over time. We continue to drive very strong mobile growth with our high-quality, differentiated and attractively priced service. The majority of new lines continue to come from existing Internet customers, though the percentage of lines coming from acquisition has increased significantly since the introduction of our Spectrum One product. And as we mentioned last quarter, our converged customers have meaningfully lower Internet and customer relationship churn. As Chris mentioned, we also continue to perform well in rural areas. The new rural disclosures we issued today on Page 5 of our trending schedule show that we continue to see robust growth in rural passings. During the quarter, we activated 44,000 subsidized rural passings despite winter’s construction seasonality. Penetration of subsidized ru”
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SEC filings for CHTR ↗ · Claim quote is verbatim from the 2023Q1 earnings call.