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Charter Communications posts higher Q2 revenues, net loss

Connecticut USA-based broadband communications and cable services firm Charter Communications Inc (NASDAQ: CHTR) has posted Q2 ´13 revenues of USD 1,972m up 4.7% as compared to the prior-year period.

Charter said that the increased revenue was led by growth in video services revenue and Internet and commercial customers.

The firm said its Q2 ´13 residential revenues grew 4.3% compared to Q2 ´12, when residential revenues grew by 2.6% on a pro forma basis1, and 3.1% on an actual basis.

Commercial revenues grew 20.6% in the second quarter versus the prior-year period, primarily driven by continued growth in small and medium businesses.

Charter´s Q2 ´13 adjusted EBITDA declined by 0.1% year-over-year to USD 692m, reflecting changes in operating practices to deliver higher value products and improved service. Its Q2 ´13 net loss totaled USD 96m compared to USD 83m in the comparable prior-year period, with the increase primarily driven by higher charges for extinguishment of debt.

The firm is a broadband communications company and the fourth-largest cable operator in the United States. Charter provides a range of broadband services, including advanced Charter TV video entertainment programming, Charter Internet access, and Charter Phone.

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