Charter posts higher revenue, trims analog losses
Charter Communications posted Q1 revenues of $1.271 billion, up 5 percent from year-ago figures. That was offset in part by a net loss of $352 million, widened from a net loss of $293 million in the year-ago period.
Charter attributed the revenue growth to gains in high-speed data (HSD), video, commercial service, and advertising sales. The MSO added 117,110 revenue generating units (RGUs) — including 94,000 HSD, 19,900 digital video subs, and 9,900 telephony subs — in the quarter. Charter also narrowed its loss of analog video subs to 6,700. Charter ended the quarter with 10.7 million RGUs.
Although basic net losses were well down from an estimate of 43,000, digital net adds were down from expectations of 32,000, Citigroup/Smith Barney Analyst Jason Bazinet wrote, in a research note.