Charter Posts Q2 Gains

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Charter Communications reported surprisingly strong financial growth for the second quarter, with revenue up 4.4% to $1.6 billion and adjusted earnings before interest, taxes, depreciation and amortization, EBITDA, a measure of cash flow, up 8.3% in the period to $638 million.

Commercial revenue also rose 14.6% in the period, to $110 million.

The St. Louis-based MSO lost 73,300 basic video customers in the period. Digital subscribers also declined by 5,700 customers in the quarter. High-speed internet and telephony customers rose by 10,600 and 56,900, respectively.
Charter filed for Chapter11 bankruptcy protection on March 27. Charter Communications reported surprisingly strong financial growth
for the second quarter, with revenue up 4.4% to $1.6 billion and
adjusted earnings before interest, taxes, depreciation and
amortization, EBITDA, a measure of cash flow, up 8.3% in the period to
$638 million.Its reorganization plan is still going through the approval process and it is expected that Charter could emerge from bankruptcy protection by the end of the summer.

"We continue to achieve greater operating efficiencies, and as a result, Charter today is a much more nimble organization, and better positioned for the current environment," Charter CEO Neil Smit said in a statement. "I am also pleased with the progress we are making with our financial restructuring and commend our employees for continuing to provide our customers with superior service and value throughout this process."

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