Charter Third-Quarter Financials, Sub Trends Improve

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.

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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