Charter Communications GAAP EPS of $7.38 misses by $0.91, revenue of $13.6B misses by $70M
Charter Communications press release (NASDAQ:CHTR): Q3 GAAP EPS of $7.38  misses by $0.91.
Revenue of $13.6B (+3.5% Y/Y)  misses by $70M.
Third quarter total residential and small and medium business ("SMB") Internet customers increased by 75,000. As of September 30, 2022, Charter served a total of 30.3 million residential and SMB Internet customers.

Third quarter total residential and SMB mobile lines increased by 396,000. As of September 30, 2022, Charter served a total of 4.7 million mobile lines.
As of September 30, 2022, Charter had a total of 32.1 million residential and SMB customer relationships, which excludes mobile-only relationships.
Third quarter revenue grew by 3.1% year-over-year, driven by mobile revenue growth of 40.2%, advertising sales revenue growth of 22.9% and residential revenue growth of 0.7%.
Third quarter Adjusted EBITDA1 of $5.4 billion grew by 2.4% year-over-year.
Third quarter capital expenditures totaled $2.4 billion and included $525 million of rural construction initiative capital expenditures and $96 million of mobile-related capital expenditures.
Third quarter net cash flows from operating activities totaled $3.8 billion, compared to $4.3 billion in the prior year quarter. The year-over-year decline was primarily due to higher cash taxes and the payment of litigation settlements, partly offset by higher Adjusted EBITDA.
Third quarter free cash flow1 of $1.5 billion decreased by 39.1% year-over-year, primarily due to capital expenditures associated with Charter's rural construction initiative and higher cash taxes.
During the third quarter, Charter purchased 5.8 million shares of Charter Class A common stock and Charter Communications Holdings, LLC ("Charter Holdings") common units for approximately $2.6 billion.
"Charter now delivers the nation's first converged broadband, WiFi and mobile experience at prices that generate significant savings for consumers," said Tom Rutledge, Chairman and CEO of Charter. "And as I look at our existing advanced offerings, and our future product capabilities, we are well positioned to grow our business at very attractive rates for many years to come."