Charter Third-Quarter Financials, Sub Trends Improve

AP Photo/Richard Drew
Charter Communications CEO Tom Rutledge

The cable company's video subscriber loss narrowed to 9,000 in the period

Cable operator Charter Communications, in which John Malone's Liberty Media owns a big stake, on Wednesday posted improved financials and subscriber trends for its third quarter.

The company reported revenue of $2.28 billion, up 8 percent, as its loss narrowed to $53 million from the year-ago loss of $70 million.

The company ended September with 4.16 million video subscribers, down 9,000 in the third quarter. That momentum improved from the year-ago loss of 27,000 customers. Broadband user growth accelerated from 86,000 to 94,000.

Read more John Malone's Liberty Media Buys More Charter Shares, Posts Mixed Financials

Overall residential customer relationships increased by 68,000 in the third quarter, up 4.9 percent over the year-ago period when the firm added 46,000 such relationships.

Said CEO Tom Rutledge: "Charter's strategy to create value by delivering superior products and service at highly competitive prices is working. As a result, our customer growth continues to accelerate."

Email: Georg.Szalai@THR.com
Twitter: @georgszalai

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