• Charter lost 117,000 broadband customers in Q2, nearly double Q1’s drop
• 500,000 new mobile lines added as company bets on Cox merger and MVNO growth
What happened: Broadband decline meets mobile growth
Charter Communications, which operates under its Spectrum brand, lost 117,000 broadband subscribers in Q2 2025, far exceeding analyst forecasts. The company blamed intensifying competition from AT&T and Verizon as both expand fibre networks and bundle high‑speed services with 5G mobile packages.
Despite the cable decline, Charter added 500,000 Spectrum Mobile lines, strengthening its wireless footprint. Quarterly revenue rose 0.6% year‑on‑year to US $13.77 billion, while adjusted earnings per share were slightly below expectations at US $9.18.
The operator is banking on a $34.5 billion merger with Cox Communications to create a broadband giant serving around 38 million customers. In parallel, Charter and Comcast are preparing to launch a joint mobile virtual network operator (MVNO) service on T‑Mobile’s 5G network in 2026 to target enterprise users.
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Why it’s important
The losses underscore the accelerating shift in the U.S. broadband market towards fibre and 5G fixed wireless, eroding the cable industry’s dominance. Charter’s worst‑ever one‑day stock plunge of nearly 18% reflects investor concern over its ability to stem subscriber churn.
The Cox merger and mobile pivot are designed to diversify revenue and regain scale, with projected cost synergies of US $500 million annually. But the deal faces antitrust scrutiny from U.S. regulators and significant execution risk as Charter integrates Cox and attempts to stabilise its core broadband business in a market where internet access is increasingly commoditised.
