Earnings: Charter Q2 In Line, Helped By Data And Telephony; Video Flat
This story was written by Joseph Weisenthal.
Cable operator Charter (NSDQ: CHTR), which continues to maintain a tenuous hold on its listing status, reported Q2 revenue of $1.62 billion, for 8.9 percent from last year. The company is still reporting major losses, $276 million vs. $360 million last year, although op income was up to $230 million from $200 million. And adjusted EBITDA grew 10.1 percent to $591 million. So far this has been a solid quarter for the cable industry, picking up subscriber adds across the board (we'll learn how Time Warner (NYSE: TWX) Cable does tomorrow) and this quarter from Charter looks as though it held up. The company lost 44,800 basic cable subs, but gained 33,900 in digital cable. With some growth in ARPU, video revenue was up 1.7 percent to $874 million. High speed internet revenue grew 10.4 percent to $339 million, with the company picking up 19,300 subscribers in the quarter.Telephony revenue grew 67.5 percent to $134 million.
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By Joseph Weisenthal