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![]() | NEWS |
• | As of September 30, 2018, Charter had 27.9 million total customer relationships and 53.0 million total PSUs. |
• | Third quarter total residential and SMB customer relationships increased 234,000, compared to 215,000 during the third quarter of 2017. Over the twelve months ended September 30, 2018, total residential and SMB customer relationships grew by 3.4%. |
• | Third quarter revenues of $10.9 billion grew 4.2%, as compared to the prior year period, driven by residential revenue growth of 3.3%, commercial revenue growth of 4.3%, and advertising revenue growth of 18.1%. |
• | Third quarter Adjusted EBITDA1 of $4.0 billion grew 3.5% year-over-year, and 5.5% when excluding third quarter mobile revenue and operating expenses. |
• | Net income attributable to Charter shareholders totaled $493 million in the third quarter, compared to $48 million during the same period last year primarily driven by a pension remeasurement gain, Adjusted EBITDA growth and lower depreciation and amortization expenses. |
• | Third quarter capital expenditures totaled $2.1 billion compared to $2.4 billion during the third quarter of 2017, primarily driven by a decline in customer premise equipment spending for Spectrum migration, and lower scalable infrastructure spending given in-year timing differences. Third quarter capital expenditures included $42 million of all-digital costs and $66 million of mobile launch costs. |
• | During the third quarter, Charter purchased approximately 3.5 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $1.1 billion. |
1. | Adjusted EBITDA, free cash flow and GAAP are defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to consolidated net income and net cash flows from operating activities, respectively, in the addendum of this news release. |
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Depreciation and amortization expense decreased by $219 million and $62 million during the three and nine months ended September 30, 2018, respectively, compared to the corresponding periods in 2017.
We continue to evaluate the deployment of our cash on hand and anticipated future free cash flow including to invest in our business growth and other strategic opportunities, including mergers and acquisitions as well as stock repurchases and dividends.
Income from operations for the nine months ended September 30, 2018 was additionally affected by a decrease in depreciation and amortization, merger and restructuring costs and special charges, net.
Growth in total revenue, Adjusted EBITDA and income from operations for the three and nine months ended September 30, 2018 compared to the corresponding prior periods was primarily due to growth in our residential Internet and commercial business customers.
Minor differences may exist due to rounding): Adjusted EBITDA is defined as consolidated net income plus net interest expense, income taxes, depreciation and amortization, stock compensation expense, loss on extinguishment of debt, (gain) loss on financial instruments, net, other expense, net and other operating (income) expenses, such as merger and restructuring costs, special charges and (gain) loss on sale or retirement of assets.
Regulatory, connectivity and produced content...Read more
The decrease in other operating...Read more
Mobile costs of $94 million...Read more
The increases in our operating...Read more
See "-Use of Adjusted EBITDA...Read more
During the three and nine...Read more
Costs to service customers increased...Read more
In addition to the items...Read more
The decrease in special charges,...Read more
Advertising sales revenues increased $67...Read more
The decrease in voice revenues...Read more
As possible acquisitions, swaps or...Read more
Adjusted EBITDA and free cash...Read more
The net proceeds, together with...Read more
We recorded a gain of...Read more
Use of Adjusted EBITDA and...Read more
These disclosure guidelines are not...Read more
Income tax expense increased year...Read more
Other revenues increased $7 million...Read more
There were no changes to...Read more
Adjusted EBITDA and free cash...Read more
The increase during the nine...Read more
The decrease in cash used...Read more
Upgrade/rebuild includes costs to modify...Read more
We realized revenue, Adjusted EBITDA...Read more
The increases related to rate...Read more
As the partnership delivers services,...Read more
We expect programming expenses will...Read more
The increase in small and...Read more
Enterprise revenues increased $38 million...Read more
As we launch our new...Read more
In addition, our accrued liabilities...Read more
We are focused on deploying...Read more
Enterprise PSUs represent the aggregate...Read more
Gain (loss) on financial instruments,...Read more
Scalable infrastructure includes costs not...Read more
These terms, as defined by...Read more
Net cash provided by operating...Read more
The increase in video revenues...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Charter Communications, Inc. provided additional information to their SEC Filing as exhibits
Ticker: CHTR
CIK: 1091667
Form Type: 10-Q Quarterly Report
Accession Number: 0001091667-18-000103
Submitted to the SEC: Thu Oct 25 2018 11:09:25 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Cable And Other Pay Television Services