Charter Communications Inc. (NASDAQ:CHTR) shares plunged Friday after the company reported weaker-than-expected fiscal first-quarter 2026 results.
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The broadband and cable provider posted quarterly revenue of $13.597 billion, down 1.0% year over year but slightly above the analyst consensus estimate of $13.539 billion. Earnings came in at $9.17 per share, missing expectations of $9.98.
The revenue decline was driven by weaker residential video performance. Charter lost 120,000 internet customers in the quarter, compared with a decline of 59,000 a year earlier.
Total video customers fell by 60,000, an improvement from the loss of 181,000 in the prior-year period, aided by simplified pricing, packaging changes and the inclusion of streaming apps in Spectrum’s expanded basic packages.
Mobile continued to be a bright spot. The company added 368,000 mobile lines, bringing the total to 12.1 million as …