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


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