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Charter charts stock rise as cabler shrinks losses. (Business).(Charter Communications)(Brief Article)(Statistical Data Included)
Shares in Charter Communications soared Monday after the cabler reported a narrowed first-quarter loss and robust growth in cash flow and revenue.
Seattle-based company, controlled by billionaire Paul Allen, posted a loss of $174.2 million in the latest quarter. That compared with red ink of $280.7 million a year earlier.
Operating cash flow rose 10% to $449.2 million, and revenue climbed 13% to $1.08 billion.
"Our revenue and cash flow for the quarter exceeded the high end of our expectations and will provide a solid base of growth, which we expect to accelerate throughout the year," Charter chief Carl Vogel said.
That sounded good to investors, who ...
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