Charter narrows first-quarter loss
Cable operator adds subscribersNEW YORK -- Cable operator Charter Communications narrowed its first-quarter loss as it grew revenue by adding subscribers.
The St. Louis-based company posted a loss of $334 million, compared with a $357 million loss in the year-ago period.
Pro forma revenue rose 6.5% to $1.66 billion driven by increases in advanced services subscribers.
The company boosted its revenue generating units by 149,600 during the quarter. It lost 22,200 basic cable customers, but added 25,600 digital video subscribers, 71,900 broadband users and 74,300 telephony customers.
"Our results for the first quarter confirm that Charter's operations remain strong," said president and CEO Neil Smit before turning to the cable firm's Chapter 11 bankruptcy restructuring process. "We have been working diligently to complete our financial restructuring expeditiously, and look forward to emerging as a stronger company."