Charter Q2 2026 Results Show Broadband Slump
Charter Q2 2026 results showed accelerating broadband losses and strong mobile additions, prompting analyst forecast cuts and near-term positioning shifts.
KEY TAKEAWAYS
- Spectrum Internet net loss was 172,000, leaving 29.4 million internet customers.
- Spectrum Mobile added 406,000 net lines, bringing total mobile lines to 12.5 million.
- Total revenue fell to $13.5 billion, prompting analyst forecast revisions.
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Charter Communications Inc. (CHTR) reported Q2 2026 results on July 24, revealing a sharp acceleration in broadband subscriber losses alongside strong Spectrum mobile growth. This combination prompted analysts to revise forecasts ahead of the company’s earnings call.
Q2 2026 Financial Results
Charter said in a press release that total revenue for the quarter ended June 30 was $13.5 billion, down 1.7% year over year. Excluding advertising sales and costs allocated to programmer streaming applications, underlying revenue declined 0.8%. Net income attributable to Charter shareholders was $1.3 billion, with earnings per basic common share of $10.76, exceeding consensus by $0.66. The company said lower Adjusted EBITDA was offset at the net-income level by a gain on extinguishment of debt. Residential revenue fell 3.5% to $10.4 billion, reflecting declines in consumer video and internet revenue partially offset by higher residential mobile service revenue.
Subscriber Trends and Competitive Pressure
Broadband losses accelerated in Q2, with Spectrum Internet shedding 172,000 customers, leaving 29.4 million internet subscribers as of June 30, a 1.7% decline year over year. Over the trailing 12 months, Charter lost 510,000 internet customers. Management attributed the weakness mainly to soft gross additions amid intense competition from fixed wireless, fiber overbuilders, and mobile substitution, rather than elevated churn.
Spectrum Mobile added 406,000 net lines in the quarter, bringing total mobile lines to 12.5 million, up about 16% year over year and 1.7 million over the past 12 months. Mobile service revenue also grew sharply, supporting the company’s strategy of using mobile as a key growth and retention tool as customers shift away from standalone cable broadband.
Video losses narrowed significantly, with net declines of 21,000 in Q2 compared to 80,000 a year earlier. Total video customers stood at 12.5 million, with a trailing 12-month decline of 107,000, or 0.8% year over year. Total customer relationships, which include internet, mobile, video, and voice, fell 1.7% year over year to 31.5 million, declining 184,000 in the quarter versus a 100,000 drop in Q2 2025.
Analysts had framed Q2 as a test of whether broadband losses were stabilizing or structural. The results led several research desks to revise forecasts downward, reflecting structurally weaker internet trends even as mobile remains the principal growth and retention lever. The mix of shrinking broadband demand and expanding mobile penetration will be central to assessing Charter’s near-term revenue and competitive strategy.
