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8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 02/04/2016
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Fourth Quarter Financial Results

CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND OPERATING DATA
(dollars in millions, except per share data)
 
Three Months Ended December 31,
 
2015
 
2014
 
% Change
REVENUES:
 
 
 
 
 
Video
$
1,167

 
$
1,134

 
2.9
 %
Internet
781

 
670

 
16.6
 %
Voice
135

 
139

 
(2.7
)%
Residential revenue
2,083

 
1,943

 
7.2
 %
Small and medium business
199

 
178

 
11.5
 %
Enterprise
95

 
84

 
14.1
 %
Commercial revenue
294

 
262

 
12.3
 %
Advertising sales
87

 
107

 
(18.9
)%
Other
48

 
48

 
(1.2
)%
Total Revenues
2,512

 
2,360

 
6.4
 %
 
 
 
 
 
 
COSTS AND EXPENSES:
 
 
 
 
 
Total operating costs and expenses
1,604

 
1,515

 
5.9
 %
 
 
 
 
 
 
Adjusted EBITDA
$
908

 
$
845

 
7.5
 %
 
 
 
 
 
 
Adjusted EBITDA margin
36.2
%
 
35.8
%
 
 
 
 
 
 
 
 
Capital Expenditures
$
548

 
$
543

 
 
% Total Revenues
21.8
%
 
23.0
%
 
 
 
 
 
 
 
 
Net loss
$
(122
)
 
$
(48
)
 
 
Loss per common share, basic and diluted
$
(1.09
)
 
$
(0.44
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash flows from operating activities
$
611

 
$
630

 
 
Free cash flow
$
80

 
$
89

 
 

Revenue

Fourth quarter 2015 revenues rose to $2.5 billion, 6.4% higher than the year-ago quarter, driven primarily by growth in Internet, video and commercial revenues.

Video revenues totaled $1.2 billion in the fourth quarter, an increase of 2.9% compared to the prior-year period. Video revenue growth was driven by higher advanced services penetration, annual and promotional rate adjustments and an increase in expanded basic and digital customers, partially offset by a decrease in residential limited basic video customers.

Internet revenues grew 16.6% compared to the year-ago quarter to $781 million, driven by an increase of 442,000 Internet customers during the last year and by promotional rolloff, price adjustments and revenue allocation from higher bundling.
 
Voice revenues totaled $135 million, a decline of 2.7% versus the fourth quarter of 2014, due to value-based pricing and revenue allocation from higher bundling, partially offset by the addition of 159,000 voice customers in the last twelve months.

Commercial revenues rose to $294 million, an increase of 12.3% over the prior-year period, and was driven by small and medium business revenue growth of 11.5% and enterprise revenue growth of 14.1%. Following the launch of new pricing and packaging for commercial customers, PSU growth has accelerated albeit at lower promotional pricing.


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