By Matt Sepic, KWMU
St. Louis, MO. – St. Louis-based Charter Communications is in the black again.
The cable company Tuesday reported $75 million in earnings for the third quarter. That compares to a loss of more than $3 billion this time last year.
R.T. Jones business analyst Juli Niemann says Charter added customers and eliminated some debt.
Basically, subscriber loss is lower than it had been. They added on some new subscribers in broadband, digital cable and voice net, so those have been some real positives, Niemann said. Most of the income, though came from the extinguishment of debt.
In the last year, four Charter executives pleaded guilty to fraud charges for their part in a scheme to inflate subscriber numbers.
But Niemann says the recent trouble means the company's new managers have more reason to be truthful with the numbers.