Key facts
- Charter said it would cut $2 billion in annualized operating costs over 18 months.
- The savings are in addition to more than $1 billion in anticipated synergies from the Cox acquisition.
- Charter lost 233,000 internet customers in the third quarter on a pro forma basis.
- Third-quarter revenue of $14.9 billion missed the $15.03 billion LSEG estimate.
- Charter posted a net loss of $20.50 per share after a $6.3 billion impairment charge.
- Charter had $108.6 billion in total debt at the end of September, against $573 million cash.
Charter Communications said on November 6, 2026 that it would cut $2 billion in annualized operating costs over the next 18 months, reworking how it sells and runs its business to try to revive growth. The company said it would change how it markets and sells its core internet service and rely more on mobile and video products to add customers and improve retention.
The savings come on top of more than $1 billion in anticipated synergies from Charter's acquisition of Cox Communications, which closed on August 19. The $34.5 billion deal, including debt, combined two of the largest US cable and broadband operators.
Charter's cable TV business faces competition from streaming services including Netflix and Disney+. In broadband, carriers including Verizon and T-Mobile are pushing fixed wireless, which delivers home internet over mobile networks.
Charter lost 233,000 internet customers in the third quarter on a pro forma basis, compared with a loss of 171,000 a year earlier, while video customers fell by 77,000, compared with a decline of 121,000.
Charter reported third-quarter revenue of $14.9 billion, below analysts' average estimate of $15.03 billion, according to LSEG data. It posted a net loss of $20.50 per share, versus income of $8.50 last year, driven mainly by a $6.3 billion franchise impairment charge. The company had total debt of $108.6 billion at the end of September, against cash of $573 million.
Reuters reported on Tuesday that Indian billionaire Mukesh Ambani's Jio Platforms has held talks with Charter and Comcast about licensing its wireless broadband technology in exchange for potential stakes in the businesses.