Charter revenues rise, loss widens
Charter Communications posted pro forma Q1 revenues of $1.18 billion, up 5 percent from a year ago. Charter attributed the rise to a strong high-speed data (HSD) revenue growth and higher commercial services revenues. Pro forma results reflect Charter's sales of systems to Atlantic Broadband Finance LLC and WaveDivision Holdings.
For the quarter, Charter's pro forma HSD revenues jumped 40 percent to $165 million, while commercial revenues rose 26 percent to $54 million. Pro forma video revenues ($828 million versus $831 million), meanwhile, were relatively flat.
Charter also posted a net loss of $294 million ($1 per share), widened from a net loss of $182 million (62 cents per share) in the year ago period.
On the service front, Charter ended the period with 6.19 million analog video subs, down slightly from 6.2 million in the previous quarter. Digital penetration of analog video customers, meanwhile, jumped 1 percent sequentially to 43 percent. Charter ended the quarter with 4.56 million homes passed with video-on-demand.