STAMFORD, Conn., April 24, 2026 /PRNewswire/ — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”), which operates the Spectrum brand, today reported financial and operating results for the three months ended March 31, 2026.
- First quarter Spectrum Mobile™ lines increased by 368,000 and by 1.8 million over the last twelve months. As of March 31, 2026, Charter served 12.1 million mobile lines.
- During the first quarter, Spectrum Internet® customers declined by 120,000. As of March 31, 2026, Charter served 29.6 million Internet customers.
- As of March 31, 2026, customer relationships totaled 31.7 million and connectivity customers totaled 30.5 million.
- First quarter revenue of $13.6 billion declined 1.0% year-over-year, primarily driven by lower residential video revenue. Residential connectivity revenue grew 0.9% year-over-year.
- Net income attributable to Charter shareholders totaled $1.2 billion in the first quarter.
- First quarter Adjusted EBITDA1 of $5.6 billion declined 2.2% year-over-year and declined 1.8% excluding transition expenses.
- First quarter capital expenditures totaled $2.9 billion and included $812 million of line extensions.
- First quarter net cash flows from operating activities totaled $4.3 billion versus $4.2 billion in the prior year.
- First quarter free cash flow1 of $1.4 billion decreased from $1.6 billion in the prior year, primarily due to higher capital expenditures, partly offset by higher operating cash flow.
- During the first quarter, Charter purchased 4.3 million shares of Charter Class A common stock for $963 million.
“We remain confident about our ability to win in the marketplace and grow over the longer term. That confidence is founded on our advanced network, our core operating strategy of delivering great products at great prices and our focus on increasing customer satisfaction,” said Chris Winfrey, President and CEO of Charter. “As we continue to improve our products, pricing, packaging, and service, and complete our rural and network initiatives, we are poised for improving customer and free cash flow growth.”
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1. |
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. |
Key Operating Results
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Approximate as of |
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|
March 31, 2026 (c) |
March 31, 2025 (c) |
Y/Y Change |
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|
Footprint |
||||||
|
Estimated Passings (d) |
58,661 |
57,167 |
2.6 % |
|||
|
Customer Relationships (e) |
||||||
|
Residential |
29,452 |
29,914 |
(1.5) % |
|||
|
Small Business |
2,231 |
2,246 |
(0.7) % |
|||
|
Total Customer Relationships |
31,683 |
32,160 |
(1.5) % |
|||
|
Residential |
(157) |
(50) |
(107) |
|||
|
Small Business |
(6) |
(4) |
(2) |
|||
|
Total Customer Relationships Quarterly Net Additions |
(163) |
(54) |
(109) |
|||
|
Total Customer Relationship Penetration of Estimated Passings (f) |
54.0 % |
56.3 % |
(2.3) ppts |
|||
|
Monthly Residential Revenue per Residential Customer (g) |
$ 118.44 |
$ 120.07 |
(1.4) % |
|||
|
Monthly Small Business Revenue per Small Business Customer (h) |
$ 162.71 |
$ 161.31 |
0.9 % |
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|
Residential Customer Relationships Penetration (i) |
||||||
|
One Product Penetration |
47.7 % |
48.9 % |
(1.2) ppts |
|||
|
Two Product Penetration |
34.8 % |
33.4 % |
1.4 ppts |
|||
|
Three or More Product Penetration |
17.5 % |
17.7 % |
(0.2) ppts |
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|
Connectivity (j) |
||||||
|
Residential |
28,446 |
28,758 |
(1.1) % |
|||
|
Small Business |
2,074 |
2,080 |
(0.3) % |
|||
|
Total Connectivity Customers |
30,520 |
30,838 |
(1.0) % |
|||
|
Residential |
(117) |
(5) |
(112) |
|||
|
Small Business |
(3) |
(2) |
(1) |
|||
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Total Connectivity Quarterly Net Additions |
(120) |
(7) |
(113) |
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|
Internet |
||||||
|
Residential |
27,524 |
27,979 |
(1.6) % |
|||
|
Small Business |
2,036 |
2,045 |
(0.5) % |
|||
|
Total Internet Customers |
29,560 |
30,024 |
(1.5) % |
|||
|
Residential |
(117) |
(55) |
(62) |
|||
|
Small Business |
(3) |
(4) |
1 |
|||
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Total Internet Quarterly Net Additions |
(120) |
(59) |
(61) |
|||
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Mobile Lines (k) |
||||||
|
Residential |
11,714 |
10,031 |
16.8 % |
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|
Small Business |
420 |
334 |
25.7 % |
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Total Mobile Lines |
12,134 |
10,365 |
17.1 % |
|||
|
Residential |
344 |
488 |
(144) |
|||
|
Small Business |
24 |
19 |
5 |
|||
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Total Mobile Lines Quarterly Net Additions |
368 |
507 |
(139) |
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Video (l) |
||||||
|
Residential |
12,021 |
12,160 |
(1.1) % |
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|
Small Business |
524 |
551 |
(5.0) % |
|||
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Total Video Customers |
12,545 |
12,711 |
(1.3) % |
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|
Residential |
(51) |
(167) |
116 |
|||
|
Small Business |
(9) |
(14) |
5 |
|||
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Total Video Quarterly Net Additions |
(60) |
(181) |
121 |
|||
|
Voice |
||||||
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Residential |
4,665 |
5,372 |
(13.2) % |
|||
|
Small Business |
1,207 |
1,234 |
(2.2) % |
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Total Voice Customers |
5,872 |
6,606 |
(11.1) % |
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Mid-Market & Large Business (m) |
||||||
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Mid-Market & Large Business Primary Service Units (“PSUs”) |
360 |
344 |
4.5 % |
|||
|
Mid-Market & Large Business Quarterly Net Additions |
3 |
4 |
(1) |
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In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics. All percentages are calculated using whole numbers. Minor differences may exist due to rounding. |
First quarter total Internet customers decreased by 120,000, compared to a decline of 59,000 during the first quarter of 2025. Spectrum Internet delivers the fastest Internet speeds1 in the nation. Spectrum is evolving its connectivity network to offer symmetrical and multi-gigabit Internet speeds across its entire footprint and has launched symmetrical Internet service in several markets. Spectrum expects to complete its network evolution initiative in 2027. Spectrum Advanced WiFi provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy. In February, Spectrum launched its Invincible WiFi™ product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during a power outage or network disruption. In the first quarter, Spectrum launched its $1,000 savings guarantee; customers signing up to Spectrum Internet and switching two or more mobile lines from Verizon, AT&T or T-Mobile are now guaranteed $1,000 of savings in their first year, or Spectrum will cover the difference.
During the first quarter of 2026, Charter added 368,000 total mobile lines, compared to growth of 507,000 during the first quarter of 2025. Spectrum Mobile offers the fastest overall speeds,2 with plans that include 5G access, do not require contracts and include taxes and fees in the price. Spectrum Mobile is central to Charter’s converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.
Total video customers decreased by 60,000 in the first quarter of 2026, compared to a decline of 181,000 in the first quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers’ streaming applications in Spectrum’s expanded basic video packages. As of March 31, 2026, Charter had 12.5 million total video customers.
Spectrum TV Select video customers now receive up to approximately $120 per month (soon to be approximately $126 per month) of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel and Fox One, with Discovery+ launching soon. In October 2025, Spectrum unveiled the Spectrum App Store, an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.
During the first quarter of 2026, total wireline voice customers declined by 174,000, compared to a decline of 278,000 in the first quarter of 2025. As of March 31, 2026, Charter had 5.9 million total wireline voice customers.
Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the first quarter of 2026, Charter activated 89,000 subsidized rural passings. Within Charter’s subsidized rural footprint, total customer relationships increased by 41,000 in the first quarter of 2026.
|
1. |
Fastest Speeds claim based on Broadband Download Speed among the top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2025. Based on Opensignal independent analysis of mean download speed. |
|
2. |
Fastest Wireless Speeds based on combined mean download speed results for 4G, 5G and Wi-Fi across converged users on the top 5 national providers in November 2025 report. |
First Quarter Financial Results
(in millions)
|
Three Months Ended March 31, |
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|
2026 |
2025 |
% Change |
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Revenues: |
|||||
|
Internet |
$ 5,852 |
$ 5,930 |
(1.3) % |
||
|
Mobile service |
1,052 |
914 |
15.1 % |
||
|
Connectivity |
6,904 |
6,844 |
0.9 % |
||
|
Video |
3,252 |
3,580 |
(9.2) % |
||
|
Voice |
338 |
356 |
(5.0) % |
||
|
Residential revenue |
10,494 |
10,780 |
(2.7) % |
||
|
Small business |
1,090 |
1,088 |
0.2 % |
||
|
Mid-market & large business |
749 |
734 |
2.1 % |
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|
Commercial revenue |
1,839 |
1,822 |
1.0 % |
||
|
Advertising sales |
358 |
340 |
5.3 % |
||
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Other |
906 |
793 |
14.2 % |
||
|
Total Revenues |
$ 13,597 |
$ 13,735 |
(1.0) % |
||
|
Net income attributable to Charter shareholders |
$ 1,163 |
$ 1,217 |
(4.4) % |
||
|
Net income attributable to Charter shareholders margin |
8.6 % |
8.9 % |
|||
|
Adjusted EBITDA1 |
$ 5,637 |
$ 5,763 |
(2.2) % |
||
|
Adjusted EBITDA margin |
41.5 % |
42.0 % |
|||
|
Capital expenditures |
$ 2,855 |
$ 2,399 |
19.0 % |
||
|
Net cash flows from operating activities |
$ 4,304 |
$ 4,236 |
1.6 % |
||
|
Free cash flow1 |
$ 1,372 |
$ 1,564 |
(12.3) % |
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|
All percentages are calculated using whole numbers. Minor differences may exist due to rounding. |
|
|
1. |
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release. |
Revenues
First quarter revenue decreased by 1.0% year-over-year to $13.6 billion, driven by lower residential video revenue partly due to costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue and higher mobile device revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, first quarter total revenue grew by 0.1% year-over-year.
Residential revenue totaled $10.5 billion in the first quarter, a decrease of 2.7% year-over-year, driven by a year-over-year decline in residential customers of 1.5% and a decrease in monthly residential revenue per residential customer of 1.4%.
First quarter 2026 monthly residential revenue per residential customer totaled $118.44, a decrease of 1.4% compared to the prior year period. The decline was driven by a higher mix of lower priced video packages within Charter’s video customer base, $218 million of costs allocated to programmer streaming applications and netted within video revenue versus $47 million in the prior year period and …