Charter Communications Losses Widen, But Sales Rise In Line With Expectations

Charter Communications Inc. reported on Friday a first-quarter net loss that widened to $81 million, or 73 cents a share, from $37 million, or 35 cents a share, in the same period a year ago. The results include $86 million in interest expenses and $13 million in other deal costs related to the Comcast Corp. transactions financing. The FactSet consensus was for a per-share loss of 7 cents. Revenue rose 7.3% to $2.36 billion, inline with the FactSet consensus of $2.37 billion, as increases in its Internet, commercial and other businesses offset declines in its voice and advertising sales businesses. "Our first quarter results continue to demonstrate the sustainable growth trajectory of our operating strategy to provide high quality products and service at an attractive price," said Chief Executive Tom Rutledge. The stock, which was still inactive in premarket trade, has run up 12% year to date, while the S&P 500 has edged up 1.3%.