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Charter Communication's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: CHTR

Before we go into more details on our third quarter results I’d first like to take a step back and update you on the execution of these strategies.

First, we are focused on fundamentally improving the customer experience, which is the foundation underlying our future success. We are transforming Charter into a customer centric organization with a commitment to delivering unmatched customer experience. We are improving our product offerings as well as the quality and reliability of our service, and while we are starting to see positive results in our operations and customer retention we are still in the early stages. It takes time for these improvements to resonate with customers and to show off this meaningful improvement in overall external customer satisfaction studies.

However, you need to see results, the best evidence of our progress is new customer satisfaction, which is more than 35% higher than for our more tenured customers, and as I said we are seeing results in our operations. Our efforts drove an 11% decrease in billing and service calls and 10% fewer service truck rolls in the third quarter compared to last year, and we continued to see improved customer relationships.

In addition to increasing customer satisfaction all of this generates bottom-line savings. Our second strategic priority is to lead with our superior Internet product in our sales, promotion, and branding efforts, to leverage our structural broadband advantage and create new customer relationships. While video is still an important element of our business, we continue to lead with our strengthened Internet. In the vast majority of our footprint we have superior Internet speeds and in less than 4% of our footprint where we overlapped the FiOS and other fiber competitors we have comparable speeds with 60-Meg residential product. Nearly 95% of our internet customers have a broadband service of 12-Meg or higher.

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