Charter Announces Fourth Quarter and Full Year 2023 Results

STAMFORD, Conn., Feb. 2, 2024

• Fourth quarter total residential and small and medium business ("SMB") Internet customers decreased by 61,000. As of December 31, 2023, Charter served a total of 30.6 million residential and SMB Internet customers, with 155,000 total Internet customers added in 2023.
• Fourth quarter total residential and SMB mobile lines increased by 546,000. As of December 31, 2023, Charter served a total of 7.8 million mobile lines, with 2.5 million mobile lines added in 2023.
• Fourth quarter revenue of $13.7 billion grew by 0.3% year-over-year, driven by residential Internet revenue growth of 3.0%, residential mobile service revenue growth of 35.7% and other revenue growth of 24.4%, primarily driven by higher mobile device sales.
• Net income attributable to Charter shareholders totaled $1.1 billion in the fourth quarter. For the year ended December 31, 2023, net income attributable to Charter shareholders totaled $4.6 billion.
• Fourth quarter Adjusted EBITDA¹ of $5.6 billion grew by 1.6% year-over-year.
• For the year ended December 31, 2023, revenue of $54.6 billion grew by 1.1% year-over-year. Full year 2023 Adjusted EBITDA totaled $21.9 billion, 1.3% higher than in 2022.
• For the year ended December 31, 2023, capital expenditures totaled $11.1 billion and included $4.0 billion of line extensions.
• Full year 2023 net cash flows from operating activities totaled $14.4 billion, compared to $14.9 billion in the prior year.
• Full year 2023 free cash flow¹ of $3.5 billion decreased from $6.1 billion in the prior year, primarily due to higher capital expenditures, mostly driven by Charter's network evolution and expansion initiatives.
• During the fourth quarter, Charter purchased 3.2 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for $1.3 billion. For the year ended December 31, 2023, Charter purchased 9.0 million shares of Charter Class A common stock and Charter Holdings common units for approximately $3.6 billion.

"Our rural footprint expansion is exceeding our deployment and penetration targets," said Chris Winfrey, President and CEO of Charter. "Our network evolution and convergence efforts remain on course. And we are beginning to see the benefits of investments in our employees and digital service to improve the customer experience. We are executing on a clear strategy to ensure we offer consumers the best products and services, all while saving them money. Not only now, but in the future."