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CLAIM #14171 · Charter Communications Inc (CHTR) · 2024Q1 earnings call · Apr 26, 2024 · due Dec 31, 2024

Our residential revenue will be supported by Internet ARPU growth and our growing mobile customer base.

Jessica Fischer · CFO

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versus commitment · official band 5 percent
Committed
Our residential revenue will be supported by Internet ARPU growth and our growing mobile customer base.
Reported
residential revenue per customer relationship grew by 1.7% year-over-year, given promotional rate step-ups, rate adjustments, and the growth of Spectrum Mobile.

In context

device sales. Cost to serve customers were essentially flat year-over-year with additional activity to support the growth of Spectrum Mobile and higher bad debt expense, mostly offset by lower service transactions per customers, including productivity from 10-year investments. Sales and marketing costs declined by 2.7% primarily driven by lower labor costs, partly tied to lower connect volume. Finally, other expense grew by 0.5%. Adjusted EBITDA grew by 2.8% year-over-year in the quarter. And when excluding advertising, EBITDA grew by 2.2% year-over-year. Looking ahead, our goal is to deliver solid EBITDA growth, and we believe we can do that even as we make significant investments in the business, face a challenging competitive environment and reach the likely end of the ACP program. Our residential revenue will be supported by Internet ARPU growth and our growing mobile customer base. In addition, mobile's contribution to EBITDA continues to improve as the business scales. We've also lapped the significant investments that we made in our employee base, so the related EBITDA drag should be mostly behind us. And finally, we continue to carefully manage our expenses across the business. And while we're not going to do anything that would impact our sales or service capabilities, this quarter's cost to service customers and sales and marketing expense results demonstrate our ability to drive efficiencies into the business. In the second quarter, we will face some tough expense comparisons, particularly in other expense as well as ACP headwinds. So while our second quarter EBITDA growth will be muted, our expense management process is clearly working. And financial grow

Verify independently

SEC filings for CHTR · Claim quote is verbatim from the 2024Q1 earnings call.