Rising Programming Costs Push Charter Communications to Higher Q4 Loss Than Expected

Feb 27, 2012  •  Post A Comment

Citing increased programming costs, Charter Communications reported worse-than-expected losses for the fourth quarter, Deadline.com reports.

The cable company posted a net loss of $67 million for Q4, the story reports. That figure is down from an $85 million loss one year ago, the story says.

Charter’s revenues were $1.83 billion, up 2.8%. But the company reported an increase of $31 million in programming costs, attributable in part to the addition of HD services and the NFL Network.

The adjusted net loss of 63 cents a share "far exceeded the 32-cent loss that analysts forecast," the story reports.

The company’s video subscribers fell by 45,500 in the quarter, the story says, to around 4.1 million. That represented an improvement from the fourth quarter of 2010, when Charter lost 62,200 subscribers.

The story notes that the subscriber loss is offset by increases in broadband and phone subscriptions.

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