In its first quarter since closing its nearly $90 billion deals to purchase Time Warner Cable and Bright House Networks, Charter Communications grew pro forma revenue 6.6% in the second quarter, while pro forma cash flow rose 9%.
Charter ended the period with basic video losses of about 152,000, an improvement over the 170,000 in losses in the same period last year. At the same time, high speed data additions increased to 236,000 from 157,000 in 2015, while phone customer increases were weaker at 83,000 compared to 214,000 in the prior year.
"On May 18, we closed our transactions with Time Warner Cable and Bright House Networks, creating a new company with the ability to innovate and grow faster," said Charter chairman and CEO Tom Rutledge in a statement. "Our organization is in place, we are executing on our plans and our track record at Charter shows that our operating model, founded on providing high quality products and service at great prices, works. We will apply that model as quickly as possible to our new assets, putting our larger company on a long-term growth trajectory, and building greater value for our shareholders."
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.