Charter Communications, the cable company controlled by billionaire Paul Allen, said Tuesday that it narrowed its second-quarter loss amid revenue gains in high-speed data subscriptions.
The St. Louis-based company reported a second-quarter loss of $356 million versus a loss of $415 million a year ago. Revenue advanced 7 percent to $1.3 billion.
The improvement came as Charter saw its high-speed-data revenue surge 25 percent, thanks in large part to nearly 311,000 net new high-speed data customers in the quarter. The company’s video revenue rose 2 percent.
The video subscriber numbers proved to be a mixed bag for Charter. The company said it lost 41,700 basic-cable subs, far fewer than many analysts had expected. However, analysts’ predictions that the company would gain digital cable subscribers proved off the mark, since Charter lost 9,000 digital customers.
Charter Has Narrowed Q2 Loss Due to High-Speed Subscriptions
Aug 2, 2005 • Post A Comment