Charter Communications' third-quarter revenue rose 9% to $14.90 billion, slightly below the $15.03 billion estimate, while a $6.3 billion franchise impairment charge contributed to a net loss. The company announced a plan targeting $2 billion in annualized expense savings over the next 18 months.
Charter Communications reported third-quarter revenue of $14.90 billion, up 9% but slightly below the $15.03 billion analyst estimate. Free cash flow was $674 million. The company posted a net loss after recording a $6.3 billion franchise impairment charge.
The company announced a plan to target $2 billion in annualized expense savings over the next 18 months. Charter expects 2026 pro forma capital expenditures, excluding transition costs, of about $13 billion, depending on network expansion, supply chain timing and business growth.
Lower residential video and Internet revenue drove a pro forma revenue decrease, partly offset by mobile and advertising sales. Mobile service revenue benefited from line growth and rate adjustments, while the launch of Spectrum products in legacy Cox markets brought strong consumer demand and improved customer trends.
