Charter Thinks It Has a Silver Bullet to End Its Miserable Run. The Stock’s Falling.

Charter owns and operates the Spectrum cable, TV, and internet brand. (Courtesy Charter Communications)

Key Points

Charter Communications announced a plan to cut $2 billion in costs over the next 18 months after closing its merger with Cox.
Spectrum Internet lost 233,000 customers in the third quarter, signaling struggles against wireless and satellite competitors.
Charter shares fell 6.3% to $118 before the opening bell following the subscriber losses and a reported quarterly loss of $20.50 a share.

Charter Communications unveiled a plan to win back investors’ confidence on Friday, saying it would target $2 billion in cost cuts over the next 18 months after closing its merger with rival Cox.

But the market wasn’t impressed by the cable operator’s third-quarter results, which showed its internet business is still bleeding subscribers.

Spectrum Internet lost 233,000 customers over the quarter. The company has struggled to retain users in recent years in the face of stiff competition from wireless and satellite internet providers.

Shares took a hit, dropping 6.3% to $117 in early trading. They were already down 40% for the year through Thursday’s closing bell.

Created with Highcharts 9.0.1Charter CommunicationsSource: FactSetAs of Nov. 6, 11:07 a.m. ET

Created with Highcharts 9.0.1June 2026Nov.90100110120130140150160$170

The subscriber losses were overshadowing Charter’s plan to slash costs. The company said it would reduce complexity, speed up decision-making, and reallocate resources. It also expects the Cox transaction to provide about $1 billion in synergies.

“We will return Charter to Internet customer growth,” CEO Chris Winfrey said in the earnings release.

“We have the assets and competitive advantages to succeed and are moving with urgency to deliver more value for our customers and stronger results for our investors,” he added.

For the quarter, Charter posted a loss of $20.50 a share. Pro forma revenue, which assumes the Cox deal closed at the start of 2024 rather than on Aug. 19, declined 1.5% from a year ago to $16.5 billion.

Write to George Glover at george.glover@dowjones.com

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