Summary
Charter Communications, Inc. reported a net loss of $37 million for the first quarter of 2014, a slight improvement from a loss of $42 million in the same period of 2013. Revenue increased by 15% year-over-year to $2.2 billion, largely driven by the acquisition of Bresnan and growth in internet and commercial services. Despite revenue growth, the company continues to face significant interest expenses on its substantial debt load. Capital expenditures remain elevated as Charter invests in its all-digital transition and network improvements. Notably, the company announced a significant set of transactions with Comcast on April 25, 2014, which are expected to reshape its operational footprint and customer base through asset purchases, exchanges, and a spin-off.
Financial Highlights
45 data points| Revenue | $2.20B |
| Operating Expenses | $1.96B |
| Operating Income | $240.00M |
| Interest Expense | $211.00M |
| Net Income | -$37.00M |
| EPS (Basic) | $-0.35 |
| Shares Outstanding (Basic) | 106.44M |
Key Highlights
- 1Revenue increased 15% to $2.2 billion, boosted by the Bresnan acquisition and growth in Internet and commercial segments.
- 2Net loss narrowed to $37 million from $42 million in the prior year's quarter.
- 3Adjusted EBITDA grew 14% to $767 million, reflecting operational improvements and acquisition contributions.
- 4Capital expenditures increased to $539 million, primarily for the all-digital transition and network upgrades.
- 5The company reported approximately $4 million in cash and cash equivalents as of March 31, 2014, highlighting its reliance on credit facilities for liquidity.
- 6A significant agreement was announced with Comcast involving asset purchases, exchanges, and a spin-off, which will substantially alter Charter's customer base and operational scale.
- 7Long-term debt remained substantial at $14.1 billion, with ongoing interest expenses impacting profitability.