Charter Communications Reports 8% Upswing In Revs

Charter Communications, the fourth-largest U.S. cable operator, had high single-digit-percentage revenue growth, while trimming its losses in its third-quarter reporting period. Revenues improved 8% to $2.3 billion.

Video revenues were 5.9% higher to $1.1 billion, with broadband revenues climbing 13.4% to $652 million.

Video growth came from improvements from higher advanced services and program bundling. Charter slowed down its loss of video customers -- losing 9,000 in the third quarter of 2014, versus a loss of 27,000 in the year-ago period. Charter credits digital bulk upgrade, more HD channels and video-on-demand offerings.

Internet revenues grew from an increase of 372,000 Internet customers during the last year, due to stronger promotional activities, bundling of services, and “legacy price adjustments.”

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Residential revenue per customer gained 2% to average $110.81 per month.

Phone/voice revenues sank 12.4% to $141 million due to pricing, bundling and revenue changes. Charter has added 172,000 voice customers in the last 12 months.

Advertising sales improved 16% of $87 million, primarily as a result of higher political advertising revenue. Without political advertising third-quarter advertising sales, revenues grew by about 6% year-over-year.

Charter Communication's midday stock price was down 2.5% to $153.57.

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