Tuesday, August 4, 2015

Charter Communications' loss widens

Charter Communications Inc (CHTR.O) reported a surprise quarterly loss, hurt by weakness in its video business.The company's net loss widened to $122 million, or $1.09 per share, in the second-quarter ended June 30, from $45 million, or 42 cents per share, a year earlier.Revenue rose 7.6 percent to $2.43 billion. Charter's residential video customers fell by a net 33,000 in the period, compared with a loss of 29,000 a year earlier. Charter said in May it would buy Time Warner Cable Inc (TWC.N) in a cash-and-stock deal valuing its larger rival at $78.7 billion. (Reporting By Lehar Maan in Bengaluru and Ankit Ajmera; Editing by Ted Kerr)

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