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8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 02/04/2016
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Year to Date Financial Results

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND OPERATING DATA
(dollars in millions, except per share data)

 
Year Ended December 31,
 
2015
 
2014
 
% Change
REVENUES:
 
 
 
 
 
Video
$
4,587

 
$
4,443

 
3.2
 %
Internet
3,003

 
2,576

 
16.6
 %
Voice
539

 
575

 
(6.4
)%
Residential revenue
8,129

 
7,594

 
7.0
 %
Small and medium business
764

 
676

 
13.0
 %
Enterprise
363

 
317

 
14.8
 %
Commercial revenue
1,127

 
993

 
13.5
 %
Advertising sales
309

 
341

 
(9.5
)%
Other
189

 
180

 
5.0
 %
Total Revenues
9,754

 
9,108

 
7.1
 %
 
 
 
 
 
 
COSTS AND EXPENSES:
 
 
 
 
 
Total operating costs and expenses
6,348

 
5,918

 
7.3
 %
 
 
 
 
 
 
Adjusted EBITDA
$
3,406

 
$
3,190

 
6.8
 %
 
 
 
 
 
 
Adjusted EBITDA margin
34.9
%
 
35.0
%
 
 
 
 
 
 
 
 
Capital Expenditures
$
1,840

 
$
2,221

 
 
% Total Revenues
18.9
%
 
24.4
%
 
 
 
 
 
 
 
 
Net loss
$
(271
)
 
$
(183
)
 
 
Loss per common share, basic and diluted
$
(2.43
)
 
$
(1.70
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash flows from operating activities
$
2,359

 
$
2,359

 
 
Free cash flow
$
547

 
$
171

 
 

Revenue

For the year ended December 31, 2015, revenues rose to $9.8 billion, 7.1% higher than in 2014, driven by continued growth in Internet, video and commercial revenues.

Operating Costs and Expenses

Operating costs and expenses totaled $6.3 billion in 2015, an increase of $430 million, or 7.3%, compared to the year-ago period, reflecting increases in programming costs, other expenses and transition costs. Transition costs accounted for $72 million of total 2015 operating costs. Excluding transition costs, total operating expenses increased by $372 million, or 6.3% year over year.

Adjusted EBITDA

Adjusted EBITDA totaled $3.4 billion for the year ended December 31, 2015, an increase of 6.8% compared to 2014, reflecting revenue growth and operating costs and expenses growth of 7.1% and 7.3%, respectively. Excluding transition-related expenses, Adjusted EBITDA grew by 8.5% year-over-year.


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