News Column

Charter Communications Posts Q4 Profit

February 21, 2014

Jim Gallagher, St. Louis Post-Dispatch

Feb. 21--Charter Communications today reported a $39 million profit for the last quarter of 2012, compared to a loss of $40 million a year ago. The recent profit equaled 35 cents per share, against a 41 cent loss a year earlier.

The cable-TV, Internet and phone company said it added 63,000 "customer relationships" in the three-month period, a figure that was adjusted to reflect the mid-year purchase of Bresnan Broadband.

The results reflected a continuing pattern of fewer cable TV customers, but more people receiving broadband internet and phone service from Charter. Cable TV customers dropped by 2,000 in the quarter, down from a 36,000 loss a year earlier. Charter added 93,000 Internet customers, versus 59,000 a year earlier. It added 56,000 phone customers, against 34,000 a year earlier

Revenues of $2.1 billion were up 5 percent, adjusted for the Bresnan purchase.

For all of last year, Charter lost $169 million, compared to a $304 million loss in 2012.

Charter is based in Stamford, Connecticut, having moved its headquarters from Town and Country in 2012.

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(c)2014 the St. Louis Post-Dispatch

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Original headline: BRIEF: Charter swings to profit in fourth quarter


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