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Charter Communications Loss Worsens

Robert Holmes

Charter Communications (CHTR Quote) posted a wider-than-expected fourth-quarter loss Wednesday, but the company met its revenue goal.

The St. Louis-based cable operator said it had a loss of $468 million, or $1.27 a share, in the fourth quarter. That ballooned from a year-ago loss of $396 million, or $1.08 a share. On an adjusted basis, which reflects sales and acquisitions as if they were owned in both 2006 and 2007, the company had a loss of $1.26 a share.

Charter said that total revenue rose 9.9% from the fourth quarter a year ago to $1.55 billion, thanks to a 118% surge in telephone revenue.

The Thomson First Call consensus was for a loss of 75 cents a share on $1.55 billion in revenue. Shares of Charter were down 3 cents at $1.05.

Rival Cablevision Systems (CVC Quote) will post its own fourth-quarter results on Thursday.