bumped up first-quarter revenue guidance Friday, citing marketing initiatives that began in the middle of last year.
Paul Allen's debt-laden cable concern sees quarterly revenue of $1.365 billion to $1.38 billion, an increase of 7.5% to 8.5% from the year-ago period. Six analysts surveyed by Thomson First Call produced a mean revenue estimate of $1.35 billion for Charter's first quarter.
Adjusted earnings before interest, taxes, depreciation and amortization should be unchanged from a year ago, the company said, as operating expenses rose due to higher programming and customer costs.
Charter said it added 126,000 high-speed Internet customers in the quarter, up from 94,000 in the year-ago period. Net customer additions for digital video were 70,100, up from 19,900 a year ago, while net additions for telephone services were 69,600, up from 9,900 a year ago.
"In the first quarter of 2006, Charter continued its targeted marketing efforts and related expenditures that began in the third quarter of 2005," the company said in an
filing. "The long-term objective of these efforts is to increase its revenues through deeper market penetration of all of its services. We believe these efforts have been effective as reflected in the ... customer results."
The stock closed at $1.06 Thursday, giving Charter a stock market capitalization of about $465 million.