ISI: Charter Doing Okay

In a research report published today by ISI, Charter Communications

is doing okay, considering video losses and impressive broadband results. “Of the results that weren't preannounced, we'd say things were “OK” overall. Revenues came in spot in-line with consensus at $1.83B. Adjusted EBITDA was reported to be $686MM, which was simply in-line with consensus expectations, and more troubling, flat from a year ago (more on that discussion below). EBITDA margins retreated 90bps on a y/y (pro forma) basis,” ISI stated in the report. ISI maintains its Buy rating and $60 PT on Charter, which is currently trading at $62.79.