Charter Communications (CHTR) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $454 million, or $ 1.67 a share in the quarter, against a net loss of $122 million, or $1.21 a share in the last year period.
Revenue during the quarter surged 309.04 percent to $10,275 million from $2,512 million in the previous year period. Total expenses were 86 percent of quarterly revenues, down from 87.14 percent for the same period last year. This has led to an improvement of 115 basis points in operating margin to 14 percent.
Operating income for the quarter was $1,439 million, compared with $323 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $3,853 million compared with $908 million in the prior year period. At the same time, adjusted EBITDA margin improved 135 basis points in the quarter to 37.50 percent from 36.15 percent in the last year period.
"Since the close of our transactions in May, we have been managing the complicated process of integrating three different companies with over 26 million customers and 90 thousand employees. Despite the complexity, our integration is going well. We also continued to grow in 2016, with pro forma customer growth of nearly 5%, revenue growth of 7%, and double digit Adjusted EBITDA growth," said Tom Rutledge, chairman and chief executive officer of Charter Communications, Inc. "In 2017, we remain focused on applying our growth-oriented operating strategy across our new footprints, driving more customer satisfaction, growth, and shareholder value."
Operating cash flow improves significantlyCharter Communications has generated cash of $8,041 million from operating activities during the year, up 240.86 percent or $5,682 million, when compared with the last year. The company has spent $11,290 million cash to meet investing activities during the year as against cash outgo of $17,032 million in the last year.
Cash flow from financing activities was $4,779 million for the year, down 67.43 percent or $9,896 million, when compared with the last year.
Cash and cash equivalents stood at $1,535 million as on Dec. 31, 2016, up 30,600 percent or $1,530 million from $5 million on Dec. 31, 2015.
Debt increases substantially
Charter Communications has witnessed an increase in total debt over the last one year. It stood at $61,747 million as on Dec. 31, 2016, up 72.85 percent or $26,024 million from $35,723 million on Dec. 31, 2015. Short-term debt stood at $2,028 million as on Dec. 31, 2016. Interest coverage ratio improved to 1.98 for the quarter from 0.74 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
