Charter posts 8 percent revenue growth on narrower video sub losses, big broadband gains

Charter Communications (NASDAQ: CHTR) reported 8 percent growth in third-quarter revenue to $2.3 billion, driven by narrowing video subscriber losses and burgeoning broadband customer gains.

The Stamford, Conn.-based cable company, which will conduct its Q3 earnings call with investors Friday at 10 a.m. EST, reported a net loss of about 22,000 video subscribers for the quarter. That was just under the 27,000 video services customers it lost in Q3 2013. Charter has about 4.15 million pay-TV customers right now.

The company also reported strong growth for its broadband business, with the customer base swelling 9 percent in the quarter to nearly 4.7 million.

Overall residential customer relationships improved by 68,000 vs. 46,000 in Q3 2013.

Charter reported a net loss in the third quarter of $53 million, narrowing from $70 million for the year-ago period.

As of the end of the third quarter, Charter said it has completed 80 percent of its all-digital transition. The company, which has deployed 2 million digital set-top boxes under the initiative, expects to complete the transition by the end of the year.

For more:
- visit Charter's earnings page

Earnings roundup: Sizing up pay TV earnings for the third quarter of 2014

Related links:
Worcester opposes transfer from Charter to Comcast
Charter Communications closes on $3.5B credit facility
SpinCo gets a real name: GreatLand Connections

WHITEPAPER

How To Lower the Cost of Ownership of Your Cable Access Network

This white paper presents a cost analysis of a virtualized cable modem termination system (CMTS) deployed in a distributed access architecture (DAA). Learn how to eliminate traditional CMTS constraints, efficiently enhance your network performance and more.

Suggested Articles

WarnerMedia scored a key HBO Max distribution deal with Comcast just as it launched in May. Nearly six months later, there still isn’t an app.

Comcast is planning new data caps and video service price increases for its subscribers in 2021.

AT&T is taking a big risk by sending “Wonder Woman 1984” to HBO Max but it could potentially pay off across several segments within the business.