Tuesday, November 2, 2010

Charter Continues to Add Video, Internet and Phone Customers in Q3

Charter, the fourth-largest cable operator in the United States, reported Q3 revenue of $1.769 billion, up 4.5% compared to the year-ago quarter, as the company continued to grow its Internet, phone, commercial and ad sales businesses. Charter reported $240 million of income from operations in the third quarter of 2010, compared to $2.591 billion of loss in the third quarter of 2009. The change in income from operations is primarily a result of the $2.854 billion impairment of franchises in 2009 that did not recur in 2010. Net loss attributable to Charter shareholders was $95 million in the third quarter of 2010, compared to a loss of $1.035 billion in the third quarter of 2009.


Some highlights for Q3:


Charter added approximately 58,700 revenue generating units (RGUs) and increased average monthly revenue per basic video customer (ARPU) 9.4% year-over-year to $126.07, driven by increased sales of The Charter Bundle and advanced services.


Digital video customers increased by approximately 41,800 and basic video customers decreased by approximately 63,800 during the third quarter. Digital customer additions for the quarter were over 80% higher than year-ago net additions due to product and service enhancements. Video ARPU was $69.10 for the third quarter of 2010, up 5.0% year-over-year as a result of increases in premium revenue and higher digital, high definition and digital video recorder (DVR) penetration.


Internet customers grew by approximately 50,800 during the third quarter of 2010, reflecting continued consumer demand for superior speeds offered by Charter. Internet ARPU of $41.97 increased approximately 0.9% compared to the year-ago quarter, reflecting increased penetration of home networking.


Third quarter 2010 net gains of phone customers were approximately 29,900. Phone penetration reached 16.0% as of September 30, 2010. Phone ARPU of $41.45 decreased approximately 4.6%.


As of September 30, 2010, Charter served approximately 5.2 million customers, and the Company's 13.0 million RGUs were comprised of 4.7 million basic video, 3.4 million digital video, 3.2 million Internet and 1.7 million phone customers.
http://www.charter.com

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