Charter Loses 233,000 Internet Customers as Comcast Plans NBCUniversal Split

Charter Communications lost 233,000 internet customers in the third quarter, and its shares fell in early trading on Friday, 6 November. The cable company, which owns Spectrum, reported the figures alongside a plan to cut $2 billion in costs.

Charter ended the quarter with 34.3 million internet subscribers. It said the drop included 156,000 customers at legacy Charter and 77,000 at legacy Cox. Charter closed its $34.5 billion purchase of Cox Communications in August, which takes its footprint to 45 states. Because of that deal, the company reported its results on a pro forma basis, meaning the figures are presented as if the two businesses had been combined for both periods. On that basis, the internet decline in the third quarter of 2025 was 171,000, according to Charter's own release.

The loss is bigger than the 172,000 Charter posted in the second quarter, which Reuters reported in July. Broadband customers are the people who pay for home internet, and they are the core of the cable business.

Video is shrinking too, though more slowly. Charter lost 77,000 video customers in the quarter, down from a loss of 121,000 a year earlier. It ended with 13.8 million video subscribers, the people who pay for cable TV packages. Wireless was a bright spot, with 13.5 million mobile customers at September 30 after 1.8 million sign-ups over the past year.

Total revenue rose 9% from a year earlier to $14.9 billion, according to Deadline. Charter CEO Chris Winfrey unveiled the $2 billion cost-cutting plan with the results. The company also reaffirmed its expectation of $1 billion in savings, known as synergies, from the Cox deal. Synergies are savings that come from combining two businesses.

The market reacted quickly. Deadline reported that Charter shares fell 5% in early trading, and that the drop extended a 43% fall in 2026 so far. Barron's put the decline at 6.3%, to $118, before the opening bell.

Analyst Gregory Williams of TD Cowen wrote that investors may not feel positive about Charter until the company shows its broadband losses have levelled off. He also said the next big move in the sector could be a tie-up between Comcast and Charter. Deadline reported that Comcast is about to split its NBCUniversal media arm away from its connectivity business. NBCUniversal owns NBC, Peacock and the Universal film studios, so that split would separate the TV and streaming side from the internet and cable side. Neither company has confirmed a merger between them.

For viewers, the immediate effect is on how cable TV and home internet are sold and bundled. For the people who make the shows, the connection to the Comcast split is the bigger question. Charter has not said how its cost cuts will affect jobs or programming.