Charter reports a wider loss
From Times Wire Services
Cable company Charter Communications Inc. reported a $468-million fourth-quarter loss even as sales rose.
The cable company controlled by Microsoft co-founder Paul Allen reported a loss of $1.27 a share, versus a year-ago loss of $396 million, or $1.08 a share.
Charter reported $178 million for impairment of franchises in the quarter.
Analysts polled by Thomson Financial had expected losses of 75 cents a share. Such predictions typically exclude one-time charges.
Increased telephone and high-speed Internet connections pushed revenue up 10% to $1.55 billion for the quarter.
The company’s stock price fell 5 cents, or 4.6%, to $1.03.