Earnings: Charter’s Loss Widens In 2Q06; Shows Progress; Phone Slows Sub Loss To Verizon

Charter Communications (CHTR) said the introduction of phone service is helping the company cut losses to Verizon FiOS in Keller, Tex. CEO Neil Smit told Dow Jones the total market share loss is 6 percent in Keller, a test bed for FiOs. Smit: “We’ve seen some win-backs, which is encouraging; it’s nice to be competing on equal footing.”
On the results front, Charter’s revenues were up 9.2 percent to $1.383 billion for continuing operations in 2Q06 but the company’s net loss widened to $382 million, or $1.20 per share. In the same quarter last year, Charter had a loss of $356 million, or $1.17 per share, on revenues of $1.266 billion. But operating results show signs of progress with gains in sub categories that experienced losses in 2Q05 last year.
Earnings| Webcast

Comments have been disabled for this post