Charter Reports Solid EPS and Revenues, Talks Up Time Warner and Bright House Transactions

released its Q2 results before the open on Tuesday. Earnings per share came in above year over year metrics sending shares up 0.38 percent. Charter reported EPS of $0.99 and revenues of $9.988 billion. The communications company had prior year Q2 EPS of $0.29 and revenues of $9.37 billion. On a pro forma basis, total customer relationships increased 173,000 during the second quarter, compared to 54,000 during the second quarter of 2015. "On May 18, we closed our transactions with Time Warner Cable and Bright House Networks, creating a new company with the ability to innovate and grow faster," said Tom Rutledge, CEO and Chairman of Charter Communications. "Our organization is in place, we are executing on our plans and our track record at Charter shows that our operating model, founded on providing high quality products and service at great prices, works. We will apply that model as quickly as possible to our new assets, putting our larger company on a long-term growth trajectory, and building greater value for our shareholders," stated Rutledge. At the time of writing, Charter traded at $237.71 in Tuesday's pre-market session.