Charter Communications Loss Narrows

Revenue is slightly better than expected.
By Robert Holmes ,

Shares of

Charter Communications

(CHTR) - Get Report

rose Monday after the company topped analysts' revenue targets for the first quarter.

The St. Louis-based cable operator said its first-quarter loss shrank to $358 million, or 97 cents a share. Those numbers compare with a year-ago loss of $381 million, or $1.04 a share. Still, that fell well short of Wall Street's expectation for a loss of 75 cents.

However, sales for the quarter rose 10.5% on a pro forma basis from a year ago to $1.56 billion, slightly above analysts expectations of $1.55 billion, according to Thomson Reuters.

Shares of Charter were up 2.5% in early trading.

Charter said that revenue generating units rose 7% from a year ago with 302,300 net additions in the quarter. The company also said average revenue per subscriber, or ARPU, jumped 13.4% to $100.14, which Charter said was due to an increase in its bundled services.

Charter's earnings came shortly after rival

Comcast

(CMCSA) - Get Report

reported better-than-expected top-line results, while

Cablevision

(CVC)

disappointed investors with its first-quarter loss.

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