Commercial, HSD Gains Drive Charter Q4Video losses improve 2/22/2013 09:30:32 AM Eastern
Charter Communications lost about 36,000 basic video customers
in the fourth quarter, an 18% improvement over the prior year, and gains in
commercial services revenue and high-speed data helped drive overall results in
Revenue increased 4.3% in the period to $1.9 billion and
cash flow increased 1.7% to $698 million, mainly fueled by a 9% rise in high
speed data sales and a 20% increase in commercial services revenue. It was the
seventh consecutive quarter of 20% growth or greater in the segment.
Charter added about 54,000 residential data customers in the
period, less than the 68,000 added in the prior year. The MSO added 34,000
telephone customers, ahead of the 27,000 additions in the prior year.
Those gains helped drive total customer relationships up by 20,000 in the
quarter, a four-fold increase over the prior year.
"Our fourth quarter results provide early evidence that
our strategic changes are working as planned," said Charter CEO Tom
Rutledge in a statement. "We are providing a more competitive product and
service, and as a result, customer relationships are growing and underlying
subscription revenue is accelerating. Across both our residential and
commercial businesses, our strategies are designed to drive higher market
penetration and sustainable growth."
Charter is scheduled to hold a conference call with analysts
to discuss quarterly results at 10 a.m.