Charter Communications Inc. said its second-quarter earnings climbed on revenue growth across its segments in the latest period, during which the company completed its roughly $60 billion acquisition of Time Warner Cable Inc.

Charter's cash-and-stock deal for Time Warner Cable, initially valued at about $55 billion when it was announced last year, had faced regulatory hurdles and criticism from consumer groups. The Federal Communications Commission's approval of the deal came with restrictions aiming to help reduce threats to online video competition that could be exacerbated by consolidation of the cable industry.

The combined cable giant is now the second-biggest broadband provider in the U.S., after Comcast Corp., and the third-largest pay-TV company, trailing AT&T Inc. and Comcast. As part of the transaction, Charter also acquired smaller operator Bright House Networks.

The latest quarter includes Time Warner Cable and Bright House results beginning May 18. In addition to its actual second-quarter results, which are skewed in comparison to the prior year because of the transactions, the company also provided results on a pro forma basis, which give effect to the acquisitions as if they had closed at the beginning of the year-ago period.

The company said its results were helped in the latest period primarily by growth in internet, commercial and video revenues. The company also said advertising sales rose 3.9%, on a pro forma basis, driven by an increase in national and political advertising revenue. Meanwhile, total operating costs rose 5.3% on a pro forma basis, driven by increases in programming and other expenses.

Over all, on a reported basis, Charter reported a profit of $3.07 billion, or $15.17 cents a share, compared with a year-earlier loss of $122 million, or $1.21 a share. On a pro forma basis, per-share earnings rose to 99 cents from 39 cents.

Revenue rose 6.6% to $9.99 billion, on a pro forma basis.

Shares in the company, up 17% so far this year, were inactive in premarket trading.

Write to Tess Stynes at tess.stynes@wsj.com and Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

August 09, 2016 08:25 ET (12:25 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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