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Charter Adds 351K Broadband Customers in Q3

Charter Communications added about 351,000 high-speed internet customers in Q3, outpacing the prior year gain of 266,000 customers by nearly 100,000, while video losses were slightly higher than in Q3 2018.

Charter ended the third quarter with 24.6 million residential broadband customers, with 85% subscribing to speed tiers of 100 Megabits per second or higher. The quarterly increase in broadband subscribers helped lift overall customer relationships in the period to 27 million, a 3.7% increase over the prior year. Charter also added 276,000 mobile lines in the third quarter, compared to 208,000 mobile line net additions in the second quarter of 2019. As of Sept. 30, Charter served a total of 794,000 mobile lines.

Revenue in the period grew 5.1% to $11.5 billion, and cash flow rose 3.4% to $4.1 billion in the quarter.

"Our strategy of offering high-quality products with good service at attractive prices is working and continues to produce strong customer relationship growth," Charter chairman and CEO Tom Rutledge said in a press release. "In the third quarter, customer relationship growth continued to accelerate and our operating strategy keeps us well-positioned to take advantage of the growth opportunity in front of Charter."