Charter Communications reported fourth-quarter net income of $1.3 billion, equivalent to $10.34 per share, falling just below consensus forecasts. Total revenue declined 2.3% year-over-year to $13.6 billion, driven by a 4.5% drop in residential video and a 7% decrease in political advertising revenue. Adjusted EBITDA slid 1.2% to $5.7 billion despite modest growth in connectivity services. Management attributed the shortfall to softer demand in legacy video offerings and reduced ad spend, while highlighting stable margin performance in core broadband operations.

In the quarter ended December 31, Charter added 44,000 video customers, a notable reversal from a loss of 123,000 a year earlier, reflecting simplified pricing and inclusion of streaming apps at no extra cost. Broadband net adds were negative 119,000, an improvement versus a 177,000 decline in the year-ago period, as competitive pressures from fixed-wireless and fiber offerings intensified. Mobile lines expanded by 428,000, lifting the total to 11.8 million, underscoring the success of bundled service promotions that integrate high-speed mobile with home internet.

Full-year 2025 free cash flow rose to $5.0 billion from $4.3 billion, buoyed by lower cash taxes and reduced interest payments despite a 12% increase in capital expenditures to $11.7 billion. Operating cash flow grew to $16.1 billion, up 12% year-over-year. During the period, Charter repurchased approximately $5.4 billion of common stock. Management reiterated its target to unlock an additional $2 billion in annual free cash flow by 2027 through cap-ex efficiencies and network evolution initiatives aimed at delivering multi-gigabit symmetrically across its footprint.