Charter Announces Second Quarter 2020 Results

STAMFORD, Conn., July 31, 2020

Key highlights:

• Second quarter total residential and SMB customer relationships¹ increased by 755,000, compared to 203,000 during the second quarter of 2019. Second quarter total residential and SMB Internet customers¹ increased by 850,000, compared to 258,000 during the second quarter of 2019.
• Charter added 325,000 Spectrum Mobile™ lines in the second quarter, and as of June 30, 2020, Charter served a total of 1.7 million mobile lines.
• Second quarter revenue of $11.7 billion grew by 3.1% year-over-year, driven by residential revenue growth of 4.1%, mobile revenue growth of 96.1% and SMB revenue growth of 2.0%.
• Second quarter Adjusted EBITDA² of $4.5 billion grew by 7.3% year-over-year, while second quarter cable Adjusted EBITDA² of $4.6 billion grew by 6.7% year-over-year.
• Net income attributable to Charter shareholders totaled $766 million in the second quarter, compared to $314 million during the same period last year.
• Second quarter capital expenditures totaled $1.9 billion and included $125 million of mobile-related capital expenditures.
• Consolidated free cash flow² for the second quarter of 2020 totaled $1.9 billion, compared to $1.1 billion in 2019. Cable free cash flow² totaled $2.1 billion for the second quarter of 2020, versus $1.4 billion in 2019.
• During the second quarter, Charter purchased approximately 2.3 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $1.2 billion.

"Our ability to grow our services this year for new and existing customers, is a testament to our operating strategy, the quality of our products and our significant investment in systems and people over the last several years," said Tom Rutledge, CEO and Chairman of Charter Communications, Inc. "We continue to perform in a difficult and disruptive environment, and all of us at Charter are proud of our work in serving the communities in which we operate."