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Charter Communications
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Latest analysis
Updated Nov 6, 2026
Charter announces $2B cost transformation and new operating model post-Cox close as Q3 internet losses widen to 156K at Legacy Charter
Charter's Q3 2026 results mark a strategic inflection: Legacy Charter lost 156,000 internet subscribers — worse than the 109,000 lost in Q3 2025 — prompting management to announce a fundamental operating overhaul anchored by a $2 billion annualized run-rate cost reduction program and a new COO hire. Pro forma revenue declined 1.5% year-over-year and adjusted EBITDA declined 3% excluding Cox transition expenses, with virtually no Cox synergies realized in the stub quarter. The Cox integration itself is tracking ahead on subscriber momentum — internet losses at Legacy Cox were cut in half within weeks of the September 16 Spectrum Day launch — but the structural internet subscriber decline at Legacy Charter is the defining challenge management has chosen to confront with an end-to-end operating overhaul rather than incremental offer adjustments.
Tone: defensiveRevenue
$54.8B
CHTR 10-K · FY 2025
Employees
91,900
Revenue FY2024
$55.1B
Founded
1993
Profile
CHTR 10-K Item 1 · Jan 30, 2026Charter Communications is a leading broadband connectivity company operating under the Spectrum brand, offering Internet, mobile, video and voice services to approximately 58 million homes and businesses across 41 states. The company has evolved from a traditional cable operator to a converged broadband, WiFi and mobile platform anchored by a fiber-powered HFC network. Its strategy centers on bundled, competitively priced services designed to reduce churn, increase revenue per customer and drive long-term profitability.
Read filing description ↓ Collapse description ↑
We are a leading broadband connectivity company with services available to 58 million homes and small to large businesses across 41 states through our Spectrum brand. Founded in 1993, we have evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, we offer Seamless Connectivity and Entertainment with Spectrum Internet, Mobile, TV and Voice products. Our strategy is focused on utilizing our fiber-powered network to deliver high-quality, competitively priced products, with outstanding service, allowing us to increase both the number of customers we serve over our network and the number of products we sell to each customer. This combination also reduces the number of service transactions we perform per relationship, yielding higher customer satisfaction and lower customer churn, which results in lower costs to acquire and serve customers and drives greater profitability. We offer Spectrum Internet products with speeds up to 1 gigabits per second across our entire footprint and multi-gigabit speeds in a portion of our footprint. We continue to upgrade our connectivity network, and we will offer symmetrical and multi-gigabit Internet speeds across our entire footprint in the next several years. Our Spectrum Mobile service is available to all new and existing Spectrum Internet customers and offers plans that include 5G access, do not require contracts and include taxes and fees in the price. Since inception in the beginning of 2022, we have spent $7.7 billion on our subsidized rural construction initiative and activated approximately 1.3 million passings.
Primary products
- Spectrum Internet
- Spectrum Mobile
- Spectrum TV
- Spectrum Voice
- Advanced WiFi
- Xumo Stream Boxes
Business segments
End markets
Geographies
Named competitors
“We are a leading broadband connectivity company with services available to 58 million homes and small to large businesses across 41 states through our Spectrum brand.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues decreased slightly in 2025 primarily due to lower customers, higher seamless entertainment allocation and lower advertising sales, partly offset by mobile line growth and higher average revenue per customer.
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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.