Charter Communications (Nasdaq: CHTR) posted a quarterly net loss of about $107 million, about $26 million more than its net loss for the same quarter last year. The company lost about 79,900 basic residential video subscribers, including about 4,900 digital video customers.
Charter noted that most of the subscriber losses continue to be on the analog video side, with overall economic conditions and price competition affecting matters. Adoption of phone and Internet services occurred at much slower rates in the second quarter this year than last year.
Still, like Time Warner Cable (NYSE: TWC) last week, Charter reported that despite the customer defections, average revenue per user actually is on the rise--about 3.4 percent to $71.40 per month in Charter's case.
The company continues to reshape itself after bankruptcy, though some of its efforts, such as its ongoing DOCSIS 3.0 investment and regional acquisitions like that of Windjammer Communications, a deal which closed this week, have required ongoing spending. Even so, capital expenses were down about $16 million year-over-year, while operating expenses were up slightly
- see the earnings release
Charter recently bought subscribers from U.S. Cable
Charter did better than some cable ops in Q1