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

Stocks in this article: CHTR

Our advantage is evident. Charter’s Internet Service received top rankings from PC Magazine and high marks from the FCC in speed testing, and Netflix has rated us the best performing cable or DSL Internet provider for the third consecutive time this year.

Accelerated growth and the number of IP devices and bandwidth used in households will feel the need for faster speeds and greater reliability. Charter is uniquely positioned to provide those services. In addition to speed customers are looking for a solutions provider as evidenced by the popularity of our home networking product. The number of customers using our in-home Wi-Fi service jumped 34% year-over-year with nearly one in four customers now relying on us for home wireless connectivity.

As slide three highlights there is an opportunity to increase our Internet penetration particularly in Homes Passed where we don’t have a video customer relationship. We are seeing continued growth and penetration as our net gains of non-video homes again doubled. But a 10% penetration compared to well over 60% in homes where we have a video relationship we feel we have ample room for growth. We are growing share and forming new customer relationships by creative marketing, increased education of our Charter as a premier ISP provider and the use of non-traditional sales channels. Last quarter we announced our partnership with Dish. We have been very pleased with the initial results where we are seeing a significant improvement in response rate and sales performance. As we ended the quarter we started marketing this across our entire footprint.

Another priority for us is to aggressively drive commercial growth. There is a significant amount of untapped commercial opportunity in our footprint. We are making investments in people, processes, and systems to expand our capabilities in these markets and extend our reach. Our commercial internet and phone businesses are more growth oriented while our commercial video business is relatively stable. In Q3 we grew data and phone commercial revenues by nearly 30% versus last year.

Read the rest of this transcript for free on seekingalpha.com

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