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Strong Q3 for Charter - Broadcasting & Cable

Strong Q3 for Charter

All-digital upgrade on track for completion by year-end
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Charter Communications reported strong third quarter results, with revenue up 8% and cash flow rising by 7%, fueled by high-speed data customer additions.  

Charter added 94,000 HSD customers in the period, more than offsetting a loss of about 9,000 basic video customers. The video losses were a big improvement over the prior year, when Charter shed about 27,000 basic video subscribers.  

"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," said CEO Tom Rutledge, in a statement. "Our growing levels of customer and product penetration, and revenue per household, are generating faster revenue and EBITDA growth. Our new product suite, Charter Spectrum, has been deployed and is designed to further build that operating and financial momentum, delivering greater value to both customers and shareholders." 

To read the full story, visit Multichannel.com.

(Photo via Ervins Strauhmanis's FlickrImage taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)

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