2024-02-02 11:49:03 ET
Charter Communications, Inc. (CHTR)
Q4 2023 Earnings Conference Call
February 02, 2024, 08:30 AM ET
Company Participants
Stefan Anninger - Investor Relations
Chris Winfrey - President and Chief Executive Officer
Jessica Fischer - Chief Financial Officer
Conference Call Participants
Jonathan Chaplin - New Street Research
Craig Moffett - MoffettNathanson
Benjamin Swinburne - Morgan Stanley
John Hodulik - UBS
Peter Supino - Wolfe Research
Sebastiano Petti - JPMorgan
Presentation
Operator
Hello, and welcome to the Charter Communications Q4 Conference Call. We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time.
I would now like to turn the call over to Stefan Anninger.
Stefan Anninger
Thanks, operator, and welcome everyone.
The presentation that accompanies this call can be found on our website ir.charter.com. I would like to remind you that there are a number of risk factors and other cautionary statements contained in our SEC filings, which we encourage you to read carefully. Various remarks that we make on today's call concerning expectations, predictions, plans and prospects, constitute forward-looking statements, which are subject to risks and uncertainties that may cause actual results to differ from historical or anticipated results. Any forward-looking statements reflect management's current view only and Charter undertakes no obligation to revise or update such statements.
On today's call, we have Chris Winfrey, our President and CEO; and Jessica Fischer, our CFO.
With that, let's turn the call over to Chris.
Chris Winfrey
Thanks, Stefan.
In 2023, we added 155,000 Internet customers, and we added nearly 2.5 million Spectrum Mobile lines for growth of nearly 50%. At the end of 2023, we had more than 7.7 million total mobile lines. Only 13% of our Internet customers now have mobile service. And we expect mobile penetration to meaningfully grow over the next several years, as the quality and value of our converged connectivity services gains wider recognition. Revenue was up by 1% in 2023, while EBITDA grew by 1.3% and 2.5% when excluding advertising.
While we are executing well on our long-term strategic initiatives and Spectrum One is working to drive mobile growth, Internet growth in our existing footprint has been challenging, driven by admittedly more persistent competition from fixed wireless and similar levels of wireline overbuild activity. Small changes in gross additions and churn in a low transaction environment have driven outsized impacts to net gains, which was clearly the case as we moved through the last quarter. I own that. So, let me start with what we believe on the competitive environment and then what we're doing to drive long-term growth by delivering high-quality products and service at a great price....
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Charter Communications, Inc. (CHTR) Q4 2023 Earnings Call Transcript