Charter’s adjusted EBITDA continues to rise
Charter Communications (CHTR) reported adjusted EBITDA of $4.2 billion in the fourth quarter, up ~4.6% YoY (year-over-year) led by higher top line growth.
However, excluding mobile earnings, the telecommunications company’s adjusted EBITDA rose ~7.6% YoY in the fourth quarter. Its adjusted EBITDA margin contracted to 37.1% in the fourth quarter from 37.5% in the fourth quarter of 2017.
Charter has managed to increase its adjusted EBITDA despite its higher operating expenses. The company’s total operating expenses rose ~6.7% YoY to $7.1 billion in the fourth quarter mainly due to a rise in programming and non-programming costs and expenses. In the fourth quarter, Charter’s programming costs rose ~5.6% YoY to $2.8 billion. Its non-programming expenses, on the other hand, rose ~7.5% YoY to $4.3 billion.