Charter says its Q3 loss narrowed
Charter Communications Inc. said Thursday that its third-quarter loss narrowed partly on increased sales of bundled services and improved cost controls.
The Town and Country-based company reported a loss of $322 million, or 86 cents per share, compared with a loss of $407 million, or $1.10 per share, a year earlier.
Prior-year results included a $56 million write-down on the value of its assets.
Analysts surveyed by Thomson Reuters predicted a loss of 67 cents per share. Analysts’ estimates typically exclude one-time items.
Revenue rose 7 percent to $1.64 billion from $1.53 billion as telephone revenue surged 54 easy online payday loans.8 percent to $144 million.
Charter added about 98,800 telephone customers and approximately 70,900 high-speed Internet customers on a pro forma basis during the quarter.
"Our financial and operational performance in the third quarter once again demonstrates the company’s disciplined approach toward increasing bundle penetration," President and Chief Executive Neil Smit said in a statement.
Charter Communications served about 5.5 million customers in the South and Midwest and on the West Coast as of Sept. 30.
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