Charter loses 172,000 internet customers as quarterly revenue declines

Charter Communications lost 172,000 internet customers in the second quarter as its financial results weakened amid pressure on the U.S. cable industry.

Revenue declined 1.7% from a year earlier to $13.5 billion, while adjusted EBITDA fell 4.3%. The company also repurchased $838 million of shares during the quarter.

The subscriber decline matters because broadband is a central business for Charter and its Spectrum brand. Continued customer losses reinforce concerns that cable providers face structural competition from fixed-wireless and fiber services. Those pressures outweighed Charter’s better-than-expected earnings-per-share result.

The reported customer loss, revenue decline, adjusted EBITDA contraction and share repurchases are confirmed in the second-quarter results. What remains uncertain is whether Charter can stabilize its broadband customer base and how persistent the competitive pressure from fixed-wireless and fiber alternatives will be in future quarters.