Charter Communications (CHTR) FY2025 results: revenue $54.8 billion, down 0.6% on the year

Charter Communications sells broadband, mobile, television and voice under the Spectrum brand, with services available to 58 million homes and to businesses of all sizes across 41 states. It was founded in 1993, began as cable television, and now describes itself as a broadband connectivity company running a converged broadband, WiFi and mobile offering over what it calls the Spectrum Fiber Broadband Network. All of its employees are based in the United States.

The customer base

There were 31,846 thousand customer relationships at 31 December 2025, against 32,214 thousand a year earlier: 29,609 thousand residential and 2,237 thousand small business. Within that, internet customers numbered 29,680 thousand, video 12,605 thousand and voice 6,046 thousand, each lower than the year before, while mobile lines rose to 11,766 thousand from 9,858 thousand. The filing reports $119.05 a month per residential customer against $118.71, and $161.50 a month per small business customer against $161.97. Mid-market and large business primary service units, counted per service offering at each location, numbered 357 thousand.

Residential products

Spectrum Internet offers speeds up to 1 gigabit per second across the whole footprint and multi-gigabit speeds in part of it. Advanced WiFi, a managed service that tunes the home network and adds control over connected devices, is available to every internet customer. Spectrum Mobile is sold to new and existing internet customers on plans that include 5G access, require no contract and include taxes and fees in the price. On video, the company has renegotiated its affiliation agreements with major programmers, which it says gives it packaging flexibility and lets it include ad-supported versions of programmer streaming apps inside video packages at no extra cost, with the option to upgrade to ad-free versions or buy them separately, delivered alongside its Xumo Stream Boxes.

Business services

Spectrum Business sells internet, mobile, video and voice to small businesses over the same network, at speeds up to 1 gigabit per second, with static IP, business WiFi, email and security, traditional or hosted voice, and wireless internet backup for outages. For mid-market and large businesses it sells tailored connectivity, communications and managed services over a high-capacity last-mile network at speeds up to 100 gigabits per second, along with data networking and fibre connections to cellular towers and office buildings.

Advertising

Spectrum Reach sells local, regional and national advertising, inserting local spots on up to 100 channels in over 90 markets and on streaming and free ad-supported television channels including Amazon and Xumo. It sells on behalf of other distributors including Verizon, DirecTV and Comcast in some areas under interconnect or representation agreements, and other operators sell on its behalf elsewhere. It enables addressable advertising for cable networks in its footprint for a fee, runs a proprietary platform that builds data-driven linear campaigns from anonymised set-top box viewing data, offers programmatic buying, and provides attribution services across television and streaming. The company also owns 35.0% of Sterling Entertainment Enterprises, LLC, trading as SportsNet New York.

The network and how it is run

The capacity expansion uses spectrum expansion first to 1.2 GHz and then to 1.8 GHz, a high split in bandwidth allocation to raise upstream speeds, Distributed Access Architecture and DOCSIS 4.0, work the filing states is expected to be largely complete by the end of 2027. Since the start of 2022 it has spent $7.7 billion on subsidised rural construction and activated approximately 1.3 million passings. Operations are centralised, with field operations regional and local, and in 2025 the in-house field workforce handled over 80% of customer premise service transactions.

From Charter Communications' annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 30 January 2026: read the full 10-K.