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Charter’s second-quarter revenues climb by 8.4 percent

Thu, 08/02/2007 - 9:44am
Mike Robuck

Spurred on by growth from its high-speed data and telephone services, Charter Communications’ Q2 revenues grew 8.4 percent.

Second-quarter revenues this year were $1.5 billion, compared with $1.4 billion in the year-ago quarter. And Charter’s high-speed Internet revenues increased by 19 percent, or $48 million, to $310 million. The company added approximately 60,300 new data subscribers, which was a 16 percent increase year-on-year.

On the telephony side, Charter’s phone business was up $51 million, which represented a 176 percent increase. Charter has a total of 700,300 phone customers, compared with 257,000 in Q2 2006. The company expects its telephone service to reach between 9.5 million and 10 million homes passed by the end of next year.

Charter’s video revenues were up less than 1 percent, to $859 million from $853 million a year ago. Digital video penetration increased by 7,600, compared with 23,800 additions in the year-ago quarter. Charter’s analog video customers dropped by 29,300, close to the same net last year.

The company narrowed its net loss to $360 million, compared with a loss of $382 million a year ago. As of June 30, Charter had about 5.58 million customers, $19.6 billion in long-term debt and $81 million of cash on hand.

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