Charter Communications Q2 Loss Widens - Quick Facts

(RTTNews) - Charter Communications, Inc. (CHTR) reported that its net loss for the second quarter of 2015 widened to $122 million from $45 million in the second quarter of 2014. Net loss per share was $1.09 compared to a loss of $0.42 last year.

Second quarter 2015 net loss reflected a $128 million loss on extinguishment of debt, $26 million of interest expense related to the Comcast transactions financing, and $19 million of transactions costs related to the Comcast, Time Warner Cable Inc. and Bright House Networks, LLC transactions in other operating expenses, partially offset by higher Adjusted EBITDA and lower tax expense.

Second quarter 2015 revenues rose to $2.4 billion, 7.6% higher than the year-ago quarter, driven primarily by growth in Internet, commercial and video revenues.

Video revenues totaled $1.1 billion in the second quarter, an increase of 3.4% compared to the prior-year period. Video revenue growth was driven by higher advanced services penetration, annual and promotional rate adjustments, pay-per-view events and higher expanded basic and digital penetration, partially offset by a decrease in residential limited basic video customers.

Internet revenues grew 16.5% compared to the year-ago quarter to $743 million, driven by an increase of 393,000 Internet customers during the last year and by promotional rolloff, price adjustments and revenue allocation from higher bundling.

Voice revenues totaled $135 million, a decline of 7.3% versus the second quarter of 2014, due to value-based pricing and revenue allocation from higher bundling, partially offset by the addition of 154,000 voice customers in the last twelve months.

Commercial revenues rose to $278 million, an increase of 14.0% over the prior-year period, and was driven by higher sales to small and medium business customers and to carrier customers.

Second quarter advertising sales revenues of $79 million decreased 0.8% compared to the year-ago quarter. Excluding the impact of political advertising revenue in the second quarter of 2015, and in the second quarter of 2014, advertising sales revenues grew by 6.8% year-over-year.