Charter and Cox Internet Losses Widen to 233,000 Subscribers in Third Quarter
Key Facts
Charter Communications and Cox together lost 233,000 internet subscribers in the third quarter of 2026 on a pro forma basis, according to the company’s results announced on November 6. The losses included 156,000 subscribers at legacy Charter and 77,000 at legacy Cox. Charter had a total of 34.3 million internet subscribers on September 30. The figures came as the company seeks to restore growth in its internet customer base, alongside a cost-cutting plan following its acquisition of Cox. CEO Chris Winfrey said the company would refocus on its products and services and become a “simpler, faster and more nimble” organization.
Pro forma internet subscriber losses accelerated from a year earlier, reaching 233,000 in the third quarter of 2026, compared with 171,000 in the same period of 2025. At legacy Charter alone, losses rose to 156,000 subscribers from 109,000 a year earlier. Legacy Cox contributed a loss of 77,000 subscribers in the latest quarter. These figures isolate the two companies’ impact within a combined base after the deal closed, with declines continuing at both. Combined video subscribers fell by 77,000, compared with a decline of 121,000 in the year-earlier period.
Charter’s reported revenue was $14.9 billion in the third quarter, up 9.1% year over year, driven mainly by the addition of Cox’s business to the results. On a pro forma basis, which compares the companies’ businesses as if they had been part of the group during the period, revenue was $16.5 billion, down 1.5% from a year earlier. The difference between the two measures shows the deal’s effect on reported revenue, while the combined businesses recorded an annual decline. The company reported an actual net loss of $2.4 billion attributable to Charter shareholders. It attributed the result mainly to a $6.3 billion franchise impairment charge.
Charter is targeting annual operating expense savings of $2 billion over 18 months. These savings are in addition to more than $1 billion in synergies the company expects from the Cox deal. Charter completed the transaction on August 19, 2026, adding more than 11 million serviceable locations and more than 5 million customer relationships. These additions give the company a broader base of locations and customers as it seeks to control group costs and improve the trajectory of internet growth. Winfrey said the company’s goal was to return to internet subscriber growth and turn the organization into a simpler, faster and more nimble entity.
Charter shares fell 2.9% on November 6 following the announcement of the third-quarter loss, according to the Associated Press. The agency added that analysts had expected the company to post a profit for the period. In the previous session, the stock closed at $125.86 on November 5, according to EL7 data. The company had scheduled its third-quarter results conference call for November 6, 2026, at 8:30 a.m. Eastern time.