Technology
Global Times: From tale of ‘Chang’e flying to the moon’ to legend of ‘Chang’e’ lunar exploration
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1 year agoon
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BEIJING, Feb. 12, 2025 /PRNewswire/ — The 15th day of the first month on the Chinese lunar calendar marks the Lantern Festival.
The moon is full in the sky, and families are reunited on Earth. This brings the story of “the lady Chang’e flying to the Moon,” as well as the mission of Chang’e lunar exploration to people’s minds.
From ancient myth to modern-day legend, we reflect on the integration of culture and technology, exploring the deeper driving forces behind China’s development. Innovative culture is undoubtedly one of the key elements.
With a history of over 5,000 years, the spirit of innovation, a most distinctive trait of the Chinese nation, has not only been internalized as an enduring spiritual heritage of the Chinese people and enriched the soil for an innovative culture, but also externalized in the practical development of the New Era, stimulating the momentum for innovative progress.
As the most technologically advanced lunar exploration mission in China’s space history to date, Chang’e-6 has established an important milestone in China’s lunar exploration program, offering a unique perspective through which we can observe the innovative spirit of the Chinese people and the innovative culture of the New Era.
In his 2025 New Year’s message, Chinese President Xi Jinping praised the technological innovation achievements such as how “the Chang’e-6 lunar probe collected samples from the far side of the moon,” stating that “all this epitomizes the lofty spirit and dreams of the Chinese people to explore stars and oceans.”
During a meeting with the representatives of space scientists and engineers who participated in the research and development of the Chang’e-6 lunar mission, Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, stressed that the achievements of the lunar exploration project embody the wisdom and hard work of several generations of Chinese aerospace workers, and demonstrate the remarkable accomplishment the country has made in scientific and technological self-reliance in recent years.
The New Era is far from ordinary. Why is it that China could always grow up in the baptism of wind and rain and emerge stronger after withstanding tests? In 2025, which marks the conclusion of the 14th Five-Year Plan (2021-2025), what enables the country to achieve its set goals? As China moves toward grand objectives, what empowers the country to overcome difficulties and challenges?
From the tale of “Chang’e flying to the moon” to the legend of “Chang’e” lunar exploration missions, people could see a vivid revelation of the secrets behind the continuous vitality of the Chinese nation and a bright future for vibrant Chinese modernization.
Dreams are never just dreams
The Chinese people possess the great spirit of dreaming and creation. As a cultural achievement of combining the basic tenets of Marxism with the excellent traditional Chinese culture, the innovative culture of the New Era inherits the genes of the excellent traditional Chinese culture and provides an endless source of power for the pursuit of dreams.
Xi has emphasized, “The Communist Party of China (CPC) Central Committee’s decision to implement the lunar exploration project is to pursue the nation’s unyielding dream of flying into the sky and reaching for the moon.”
The legend of “Chang’e flying to the moon” is also where dreams begin.
Over 2,000 years ago, the Qin bamboo slips in the text “Gui Cang” recorded the story of “Chang’e flying to the moon.” Qu Yuan, a patriotic poet from the ancient Chu state, which existed more than 2,200 years ago during the Warring States Period (475 BC-221 BC), first mentioned the moon rabbit in his long poem “Tianwen,” meaning “Heavenly Questions.” These ancient myths are beautiful and touching, with stories having been passed down through the ages in books and by word of mouth.
For thousands of years, from the verse in the ancient classic Book of Songs, to poet Li Bai’s “My heart yearns for the blue sky and to embrace the bright moon,” and to poet Su Shi’s “We share the beauty of the moon thousands of miles apart”… Classic cultural masterpieces shine like stars in the sky and these are the verses that people can recite effortlessly.
As far back as the Xia Dynasty (2070-1600 BC), ancient Chinese had developed the lunar calendar based on the cycles of the moon to guide agricultural production. During the Ming Dynasty (1368-1644), Wan Hu attempted to fly to the sky using a self-made rocket, becoming the first recorded “moon mission” in human history. The brilliant cultural lineage illuminates the past and present, a shared memory embedded in Chinese people’s genetic heritage.
“Exploring the vast universe, developing space programs and becoming an aerospace power have always been the dream we’ve been striving for.” In the luster of the Chinese people’s lives, dreams are never just dreams.
The legend of flying to the moon, the longing for the moon, and the ambition to embrace the moon have been passed down through civilization, and forged into an incredibly tenacious spirit – the courage to pursue and realize dreams.
In the late hours of December 15, 2013, Xi made a special visit to the Beijing Aerospace Control Center. At the same time, 380,000 kilometers away from Earth, the Chang’e-3 lunar probe successfully landed in the moon’s Sinus Iridium, or the Bay of Rainbows, and the first moon rover Yutu (Jade Rabbit) safely departed from the lander to explore the lunar surface.
Following the successful missions of Chang’e-3, Chang’e-4, Chang’e-5, and Chang’e-6, Xi met with space scientists and engineers who participated in these groundbreaking projects.
The Chinese top leader emphasized, “China is a big country and must attach importance to the real economy and take the path of self-reliance. Core technologies in key fields should be based on independent research and development.”
Xi also stressed promoting the lunar exploration spirit and giving full play to the advantages of the new system of pooling national resources and strengths to ascend the peak of science and technology, and serve the country’s overall development. He emphasized embarking on a new interplanetary exploration journey step by step, promoting the innovative development of China’s space exploration cause, and making greater contributions to humanity’s peaceful use of space.
These heartfelt innovation exhortations carry the weight of Chinese people’s earnest aspirations for pursuing dreams. Rooted in dreams, grounded in innovation, and realized through practical efforts – this is the logical framework of great undertakings.
“If foreigners could do it, why couldn’t we Chinese do it? ” This statement by Qian Xuesen, the founding father of Chinese aerospace exploration, encapsulates the ambition and determination of China’s researchers to reach new heights in technology.
“Mom, when I go to college, I want to study aerospace engineering. I will find a way to visit the moon and help Grandma and you realize this dream!” This was the aspiration of Ye Peijian, chief commander and designer of the Chang’e-1 project, who grew up listening to stories about the moon from his grandmother and mother, inspiring him to pursue a career in space exploration.
Dreams can be vast and grand, but the journey to realize them is often fraught with challenges, twists, and turns.
At the Beijing Planetarium, a piece of lunar rock no larger than a soybean quietly sits on display, attracting visits from numerous astronomy enthusiasts. In 1978, the US government gifted China this one gram lunar rock. Half of it was used for scientific research to uncover the rock’s “past and present,” while the other half was showcased for educational purposes.
“At that time, my dream was to have a piece of lunar rock that China had collected itself,” reminisced Ouyang Ziyuan, the first chief scientist for China’s moon exploration program, filled with emotion.
When dreams are ignited, the relentless efforts of countless dream chasers, nurtured by a culture of innovation, converge into an unstoppable force.
Since the beginning of the New Era, China has entered the best period for technological innovation.
From the Chang’e lunar missions to the “Tianhe,” the core module of China’s space station, the “Tianwen” Mars exploration and the shining “Beidou” satellite system, and from “Crust 1” delving deep into Earth to the “Fendouzhe (Striver)” submersible exploring the depths of the ocean – these remarkable achievements reflect the Chinese nation’s profound connection to the stars and the sea. They also serve as the most vivid manifestation of the innovative spirit that Chinese civilization has bestowed upon Chinese people.
A journey of trials and triumphs
There is no smooth road to innovation, let alone a shortcut. In the New Era, a culture of innovation inspires a spirit of perseverance in the face of challenges, paving the way for the realization of dreams.
In ancient Chinese mythology, there exists a unique spirit characterized by remarkable qualities – from Pangu creating the world, and Nuwa patching up the sky, to Kuafu chasing the sun, Jingwei filling up the sea and Yugong removing mountains. These tales not only ignite dreams and inspire wisdom, but also advocate for proactive engagement and encourage action.
On the journey of national rejuvenation, countless “impossibilities” have transformed into “certainties” through this unwavering pursuit of dreams. The tale of “Chang’e flying to the moon” has evolved into the legend of “Chang’e” lunar exploration, illustrating how myths can be transformed into legendary narratives.
This is the footprint of innovation, marked by a courageous spirit of exploration.
In January 2004, China’s lunar exploration program was officially initiated. In October 2007, Chang’e-1 was launched from the Xichang Satellite Launch Center in Southwest China’s Sichuan Province.
With a lack of components, no ground testing conditions, and uncertainty about how to reach the moon, a research team of scientists under the age of 30, on average, began developing the first artificial satellite to orbit the moon from scratch. Sun Jiadong, the program’s first chief designer, remarked, “From the moment Chang’e-1 took off for the moon, I knew that once the door to lunar exploration was opened, the pace of deep space exploration would not stop.”
On December 14, 2013, Chang’e-3 landed on the moon, marking the first time that China had sent a spacecraft to soft land on the surface of an extraterrestrial body. It pioneered thermal control technology for two-phase fluid circuits and was equipped with a 360-degree panoramic camera, an infrared spectrometer, and an X-ray spectrometer, along with a new landing buffer system, autonomous navigation, and remote control systems. “The more difficult the path, the more we want to explore it,” said Sun, reflecting the team’s innovative spirit.
After Chang’e-3 successfully landed on the moon, what was the backup Chang’e-4 to do? The answer was to go to the far side of the moon!
Following numerous debates, Wu Weiren, the chief designer of China’s lunar exploration program, insisted, “We should give Chang’e-4 greater vitality and more functions to explore the far side of the moon, which has never been reached by human spacecraft.”
In January 2019, Chang’e-4 made history by achieving the first soft landing on and exploration of the moon’s far side, leaving its first footprints in lunar exploration history. In December 2020, Chang’e-5 returned to Earth with 1,731 grams of lunar samples, marking China’s first extraterrestrial sample return while completing the three-step plan of orbiting, landing, and returning.
In June 2024, Chang’e-6 touched down on the far side of the moon and collected samples from this rarely explored terrain for the first time in human history. The launch schedules for Chang’e-7 and Chang’e-8 have been confirmed, and China plans to send humans to the moon by 2030.
As we embark on a new journey in this New Era, how do we continue to gain advantages, take initiative, and secure the future? The key lies in the spirit of daring to innovate and dream.
This is a collaborative force of innovation. A drill and a shovel may seem like simple tools, but ensuring their proper use on the moon involves complex innovations that embody the wisdom of many teams.
The design of lunar sampling equipment draws on geologists’ experiences of digging on Earth; the lunar soil structure detector developed by the Chinese Academy of Sciences acts as “eyes” providing information support; the “arm” for lunar soil collection is a robotic arm developed by a team from the Harbin Institute of Technology; and the strength of the “joints” and “hands” comes from the motor components and drilling subsystems developed by China Aerospace Science and Technology Corporation.
As China’s most complex and technologically advanced space system engineering project, the lunar exploration program is large-scale, systemically complex, and highly integrated, coordinated by the China National Space Administration and involving 3,000 institutes and nearly 100,000 participants.
“The three-step overall plan of the lunar exploration program could not have been completed on time without the traditional advantages of socialism in concentrating resources and the support of a new national system,” said Hu Hao, chief designer of the Chang’e-5 and Chang’e-6 missions.
When collective strength is harnessed, nothing is insurmountable. The government, enterprises, and research institutions work together, integrating five major systems: Satellites, launch vehicles, launch sites, measurement and control, and ground applications. From seasoned academicians to fresh graduates born in the 1990s, their unified collaboration has made the Chang’e program a collective effort, paving the way to the moon.
Innovation has always been fraught with challenges. China’s lunar exploration program has achieved six consecutive successes. The spirit of lunar exploration forged by researchers is a decisive factor in this success.
Xi has urged efforts to promote the spirit of lunar exploration, characterized by “chasing dreams, daring to explore, collaborating to overcome challenges, and achieving win-win cooperation,” to further enhance the national confidence and pride of all Chinese people, and build up a great force to comprehensively promote the building of a strong country and the realization of national rejuvenation through Chinese modernization.
This year’s Spring Festival Gala featured a collaborative performance of the yangge dance by humans and machines. Behind the robot’s ability to manipulate handkerchiefs lies the perfect support of AI-driven full-body motion control technology.
The production and sales of new energy vehicles have also exceeded 12 million units, maintaining the world’s top position for 10 consecutive years, reflecting the strong support of new quality productive forces. China’s grain output has reached a new milestone of 1.4 trillion jin (700 billion kilograms) for the first time, with technology helping farmers secure their “golden rice bowls,” showcasing the intrinsic motivation for building a strong agricultural nation.
The tide of the new era is surging. Countless stories of technological innovation are emerging, and an increasingly rich atmosphere of innovation culture is taking shape, providing stronger momentum for the giant ship “China” to move forward.
Only open cooperation is the right path
Technological progress is a global and contemporary issue, and only open cooperation is the right path. Continuously enriching and developing in an open and inclusive manner, and gathering the strength of the world through mutual learning and collaboration, are distinctive features of the innovation culture in the New Era.
Xi has pointed out: “The Chang’e lunar missions, which belong to both China and all people in the world, have provided a broad stage for international scientific and technological cooperation, and contributed Chinese wisdom and strength to the world’s deep space exploration.”
Opening international applications for lunar soil samples, Russian researchers discovered unusual metallic iron-like linear crystals in the lunar soil collected by the Chang’e-5 probe. Carrying international payloads such as the European Space Agency’s lunar surface ion analyzer, France’s lunar radon detector, Italy’s laser retroreflector, and Pakistan’s CubeSat satellite, the Chang’e-6 missions assisted Pakistan in capturing its first lunar image and helped France complete its first lunar landing space project.
“Outer space is the common territory of humanity, and space exploration is a common cause for all mankind.” The lunar exploration program has always been welcoming, promoting the global sharing of scientific achievements and ensuring that aerospace technology benefits humanity.
For Chang’e-1, to ensure 24-hour uninterrupted tracking, China collaborated with the European Space Agency and relevant departments in Chile, using four foreign tracking stations for control. For Chang’e-4, the neutron radiation detector aboard the lander was developed by Germany, and ground station that China built in Argentina played an important role in the monitoring and control of the mission.
Technological innovation has never been a solitary endeavor or a closed-door affair. One important reason for the success of the lunar exploration program is its unwavering commitment to open innovation, planning, and promoting technological development with a global perspective, and strengthening international cooperation in all aspects.
Open cooperation leads to mutual benefits and win-win outcomes
“China’s juncao,” which transcends mountains and seas, has taken root in over 100 countries, becoming “a gift from China to the world.” “China’s Sky Eye,” which continues to open up to the global scientific community, has helped research teams from 15 countries, including the US, the Netherlands, and Australia, conduct over 900 hours of observations, continually expanding humanity’s limits in observing the sky. Agreements on intergovernmental scientific cooperation have been signed with over 80 Belt and Road Initiative partner countries, promoting the sharing of innovative achievements.
Promoting open cooperation in science and technology is becoming a vivid practice of building a community of shared future for mankind. The world is interconnected, and humanity shares a common destiny.
China has always relied on the hard work and innovative creativity of its people to develop and strengthen itself, achieving national development by combining the stimulation of intrinsic motivation with the peaceful utilization of external resources, firmly grasping the fate of its own development and progress in its own hands.
China has always placed its own development within the coordinate system of human development, jointly addressing global challenges such as climate change, food security, and energy security, actively integrating into the global innovation network while deeply participating in global scientific governance, and working with countries around the world to create an open, fair, just, and non-discriminatory international environment for scientific and technological development.
Innovation determines the future, and reform concerns the fate of the nation. Chinese modernization is full of momentum; the future of China is limitless. Let us unite our hearts and minds while gazing at the stars, and strive tenaciously while staying grounded, as we move toward our grand goals.
https://www.globaltimes.cn/page/202502/1328338.shtml
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SOURCE Global Times
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Siris to Acquire Equiniti’s Retirement Solutions, Customer Resolutions and Lenvi Businesses
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Transaction to be Completed in Parallel with the Closing of Equiniti’s Previously Announced Sale to Bullish
WEST PALM BEACH, Fla., July 24, 2026 /PRNewswire/ — Siris (together with its affiliates, “Siris”), a leading private equity firm focused on control investments in mission-critical services businesses, today announced that it has elected to exercise its option to maintain ownership of EQ Retirement Solutions (“EQRS”), EQ Customer Resolutions (“EQCR”) and Lenvi from Equiniti (“EQ”). The three businesses provide essential services to UK pension schemes, financial institutions and corporate clients.
The transaction follows Siris’s previously announced agreement to sell EQ to Bullish (NYSE: BLSH), under which Siris retained the option to acquire these businesses. It is expected to be completed in parallel with the closing of EQ’s previously announced sale to Bullish in January 2027, subject to customary closing conditions and required regulatory approvals.
EQRS is a leading provider of outsourced pension administration services and proprietary administration software, including its Compendia platform, supporting more than 10 million members and £10 billion in annual payments for many of the UK’s largest public and private sector pension schemes. EQCR helps financial institutions and other regulated businesses manage customer and complaints resolution, combining specialist staffing and technical expertise with proprietary case management software. Lenvi provides loan servicing software, standby servicing and fraud detection software for banks and non-bank lenders, with more than £100 billion of credit assets managed on behalf of over 150 lenders through its FCA-regulated platform.
Siris has owned EQ since 2021 and has invested significantly in the three businesses during that period. Under renewed and dedicated Siris ownership, the businesses will further accelerate investment in technology, including AI-enabled administration capabilities, onboarding capacity and enhanced member experience, while maintaining continuity of service for clients.
“Maintaining ownership of EQRS, EQCR and Lenvi will establish these businesses as a dedicated platform within our portfolio, with a clear mandate to invest in their growth,” said Frank Baker, Co-Founder and Managing Partner, and Grant Weisberg, Principal, at Siris. “We have seen firsthand the strength of these assets, the quality of their teams and the opportunities ahead for them. As a standalone platform with dedicated focus and resources behind them, these businesses will be well positioned to accelerate their momentum and create long-term value for all stakeholders in this next chapter.”
About Siris
Siris is a leading private equity firm focused on control investments in mission-critical services businesses. Based in West Palm Beach, Florida, Siris has deployed more than $9 billion of equity capital since inception. www.siris.com.
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The PMA Rallies the International Community to Act Before the Breaking Point: The Severance of Correspondent Banking Relationships Threatens the Economy and Life
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RAMALLAH, Palestine, July 24, 2026 /PRNewswire/ — The PMA Governor, Mr. Yahya Shunnar, warned during a high-level meeting convened by the Palestinian Monetary Authority, with the participation of several ambassadors and representatives of international financial institutions, of the grave consequences of the severance of correspondent banking relationships (CBR). He stressed that the continuation of the Israeli measures is driving the Palestinian economy toward collapse, threatening food security and the provision of essential services.
The PMA convened the session under the title “The Breaking Point: Sounding the Alarm Before the Collapse.” Featuring remarks by the Governor of the Central Bank of Jordan, Dr. Adel Al Sharkas; the Director General and Chairman of the Arab Monetary Fund, Dr. Fahad Al Turki, via videoconference; the IMF’s Resident Representative, Mr. Tobias Roy; the Senior Adviser UNSCO, Mr. Hansjoerg Strohmeyer; and the Chairman of the Association of Banks in Palestine, H.E. Mr. Maher Al-Masri.
Governor Shunnar urged the international community to act immediately to preserve CBRs — Palestine’s only gateway to goods and services worldwide under the Paris Economic Protocol — and to secure reliable, sustainable arrangements ensuring the uninterrupted flow of trade with Israel and the wider world.
Any disruption or termination of these relationships, he warned, would reach far beyond the financial sector and could rapidly escalate into an economic and humanitarian crisis. Broken supply chains could trigger shortages of fuel, energy, and essential food commodities, alongside rising prices, unemployment, and poverty — all amid a worsening fiscal crisis driven by Israel’s continued withholding of clearance revenues, which further limits the Palestinian government’s ability to meet its obligations and deliver essential services.
Shunnar noted that 90% of Palestinian exports go to Israel, while 100% of imports originate from or pass through it, some 60% directly. Israeli correspondent banks processed roughly NIS 51 billion in transactions during 2025, underscoring how critical these channels are to sustaining economic activity.
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Participants acknowledged that the window for effective action is narrowing rapidly, and that averting this scenario requires urgent, coordinated intervention to secure stable, sustainable arrangements that keep the Palestinian banking sector connected to the global financial system.
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hshehadeh@pma.ps
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Charter Announces Second Quarter 2026 Results
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STAMFORD, Conn., July 24, 2026 /PRNewswire/ — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”), which operates the Spectrum brand, today reported financial and operating results for the three and six months ended June 30, 2026.
Second quarter Spectrum MobileTM lines increased by 406,000 and by 1.7 million over the last twelve months. As of June 30, 2026, Charter served 12.5 million mobile lines.During the second quarter, Spectrum Internet® customers declined by 172,000. As of June 30, 2026, Charter served 29.4 million Internet customers.Video customers decreased by 21,000 in the second quarter and declined by 107,000, or 0.8%, over the last twelve months. As of June 30, 2026, Charter served 12.5 million video customers.As of June 30, 2026, customer relationships totaled 31.5 million and connectivity customers totaled 30.4 million.Second quarter revenue of $13.5 billion declined 1.7% year-over-year, primarily driven by lower residential video revenue.Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter.Second quarter Adjusted EBITDA1 of $5.4 billion declined 4.3% year-over-year and by 3.2% excluding transition expenses.Second quarter capital expenditures totaled $2.9 billion.Second quarter net cash flows from operating activities of $3.9 billion vs. $3.6 billion in the prior year.Second quarter free cash flow1 of $969 million declined $77 million versus the prior year, primarily due to an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher operating cash flow.During the second quarter, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million and $1.2 billion in aggregate principal amount of Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash.
“We operate in a competitive environment across all of our products, and our strategy for growing connectivity services is simple — deliver the best products, at the best overall value, with the best service,” said Chris Winfrey, President and CEO of Charter. “We look forward to delivering the benefits of that strategy to Cox’s customers and communities after the transaction closes. As the nation’s leading provider of converged connectivity services, Spectrum will have additional scale to develop new products with industry and technology partners. And by saving customers money with Spectrum products, serviced by 100% US-based employees — we will drive customer and shareholder value for years to come.”
1.
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.
Key Operating Results
Approximate as of
June 30, 2026 (d)
June 30, 2025 (d)
Y/Y Change
Footprint
Estimated Passings (e)
58,981
57,540
2.5 %
Customer Relationships (f)
Residential
29,276
29,819
(1.8) %
Small Business
2,223
2,241
(0.8) %
Total Customer Relationships
31,499
32,060
(1.7) %
Residential
(176)
(95)
(81)
Small Business
(8)
(5)
(3)
Total Customer Relationships Quarterly Net Additions
(184)
(100)
(84)
Total Customer Relationship Penetration of Estimated Passings (g)
53.4 %
55.7 %
(2.3) ppts
Monthly Residential Revenue per Residential Customer (h)
$ 117.52
$ 119.70
(1.8) %
Monthly Small Business Revenue per Small Business Customer (i)
$ 165.27
$ 162.91
1.4 %
Residential Customer Relationships Penetration (j)
One Product Penetration
47.4 %
48.7 %
(1.3) ppts
Two Product Penetration
35.1 %
33.8 %
1.3 ppts
Three or More Product Penetration
17.6 %
17.5 %
0.1 ppts
Connectivity (k)
Residential
28,306
28,705
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Small Business
2,069
2,076
(0.4) %
Total Connectivity Customers
30,375
30,781
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Residential
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Small Business
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(4)
(1)
Total Connectivity Quarterly Net Additions
(145)
(57)
(88)
Internet
Residential
27,358
27,868
(1.8) %
Small Business
2,030
2,040
(0.5) %
Total Internet Customers
29,388
29,908
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Residential
(166)
(111)
(55)
Small Business
(6)
(5)
(1)
Total Internet Quarterly Net Additions
(172)
(116)
(56)
Mobile Lines (l)
Residential
12,099
10,502
15.2 %
Small Business
441
354
24.4 %
Total Mobile Lines
12,540
10,856
15.5 %
Residential
385
471
(86)
Small Business
21
20
1
Total Mobile Lines Quarterly Net Additions
406
491
(85)
Video (m)
Residential
12,010
12,087
(0.6) %
Small Business
514
544
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Total Video Customers
12,524
12,631
(0.8) %
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(73)
62
Small Business
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Total Video Quarterly Net Additions
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59
Voice
Residential
4,494
5,161
(12.9) %
Small Business
1,200
1,225
(2.1) %
Total Voice Customers
5,694
6,386
(10.8) %
Mid-Market & Large Business (n)
Mid-Market & Large Business Primary Service Units (“PSUs”)
364
350
3.9 %
Mid-Market & Large Business Quarterly Net Additions
4
6
(2)
In thousands, except per customer and penetration data. See footnotes to unaudited summary of operating statistics on page 7 of the addendum of this news release. The footnotes contain important disclosures regarding the definitions used for these operating statistics. All percentages are calculated using whole numbers. Minor differences may exist due to rounding.
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During the second quarter of 2026, Charter added 406,000 total mobile lines, compared to growth of 491,000 during the second quarter of 2025. Spectrum Mobile has faster wireless speeds than the competition (AT&T, T-Mobile, Verizon).2 Spectrum Mobile is central to Charter’s converged network strategy to provide customers a differentiated connectivity experience with highly competitive, simple data plans and pricing.
Total video customers decreased by 21,000 in the second quarter of 2026, compared to a decline of 80,000 in the second quarter of 2025, with the improvement driven by simplified pricing and packaging and benefits from the inclusion of programmers’ streaming applications in Spectrum’s expanded basic video packages. As of June 30, 2026, Charter had 12.5 million total video customers.
Spectrum TV Select video customers now receive up to approximately $127 per month of programmers’ streaming application retail value at no extra cost, including the ad-supported versions of Disney+, Hulu, ESPN Unlimited, HBO Max, Paramount+, Peacock, AMC+, ViX, Tennis Channel, Fox One and Discovery+. Beginning in June 2026, Spectrum customers can purchase ad-supported and ad-free versions of Netflix through the Spectrum App Store. The Spectrum App Store is an innovative digital marketplace where Spectrum TV customers can activate, manage and upgrade the streaming apps included with their video plans. The Spectrum App Store also allows Spectrum customers without a traditional TV package to purchase and manage streaming apps à la carte.
During the second quarter of 2026, total wireline voice customers declined by 178,000, compared to a decline of 220,000 in the second quarter of 2025. As of June 30, 2026, Charter had 5.7 million total wireline voice customers.
Charter continues to work with federal, state and local governments to bring Spectrum Internet to unserved and underserved communities. During the second quarter of 2026, Charter activated 127,000 subsidized rural passings. Within Charter’s subsidized rural footprint, total customer relationships increased by 47,000 in the second quarter of 2026.
1.
Most reliable Internet claim based on Broadband Reliability Experience among top 5 national providers in Opensignal USA: Fixed Broadband Experience Report – May 2026. Based on Opensignal independent analysis of Internet connectivity, completion, and sufficiency.
2.
Based on Download Speeds among top 5 national providers in Opensignal USA, Converged Experience, April 2026.
Second Quarter Financial Results
(in millions)
Three Months Ended June 30,
2026
2025
% Change
Revenues:
Internet
$ 5,776
$ 5,969
(3.2) %
Mobile service
1,095
921
18.9 %
Connectivity
6,871
6,890
(0.3) %
Video
3,149
3,488
(9.7) %
Voice
331
346
(4.5) %
Residential revenue
10,351
10,724
(3.5) %
Small business
1,104
1,096
0.7 %
Mid-market & large business
761
740
2.8 %
Commercial revenue
1,865
1,836
1.5 %
Advertising sales
416
371
12.3 %
Other
894
835
7.1 %
Total Revenues
$ 13,526
$ 13,766
(1.7) %
Net income attributable to Charter shareholders
$ 1,292
$ 1,301
(0.7) %
Net income attributable to Charter shareholders margin
9.6 %
9.4 %
Adjusted EBITDA1
$ 5,449
$ 5,693
(4.3) %
Adjusted EBITDA margin
40.3 %
41.4 %
Capital expenditures
$ 2,871
$ 2,874
(0.1) %
Net cash flows from operating activities
$ 3,925
$ 3,600
9.0 %
Free cash flow1
$ 969
$ 1,046
(7.4) %
All percentages are calculated using whole numbers. Minor differences may exist due to rounding.
1.
Adjusted EBITDA and free cash flow are non-GAAP measures defined in the “Use of Adjusted EBITDA and Free Cash Flow Information” section and are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the addendum of this news release.
Revenues
Second quarter revenue decreased by 1.7% year-over-year to $13.5 billion, driven by lower residential video revenue mostly due to higher costs allocated to programmer streaming applications and netted within video revenue and lower residential Internet revenue, partly offset by an increase in residential mobile service revenue, higher mobile device revenue and higher advertising sales revenue. Excluding advertising sales revenue and costs allocated to programmer streaming applications and netted within video revenue, second quarter total revenue declined by 0.8% year-over-year.
Residential revenue totaled $10.4 billion in the second quarter, a decrease of 3.5% year-over-year, driven by a year-over-year decline in residential customers of 1.8% and a decrease in monthly residential revenue per residential customer of 1.8%. Excluding costs allocated to programmer streaming applications and netted within video revenue, residential revenue declined by 1.8%.
Second quarter 2026 monthly residential revenue per residential customer totaled $117.52, a decrease of 1.8% compared to the prior year period. The decline was driven by $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, pricing and packaging mix within Charter’s customer base and a decline in video customers during the last year, partly offset by the growth of Spectrum Mobile. Excluding costs allocated to programmer streaming applications and netted within video revenue, monthly residential revenue per residential customer decreased 0.1% compared to the prior year period.
Internet revenue declined 3.2% year-over-year to $5.8 billion, driven by a decline in Internet customers year-over year and pricing and packaging mix within Charter’s customer base, partly offset by more favorable bundled revenue allocation year-over-year.
Second quarter mobile service revenue totaled $1.1 billion, an increase of 18.9% year-over-year, driven by mobile line growth and rate adjustments.
Video revenue totaled $3.1 billion in the second quarter, a decrease of 9.7% compared to the prior year period, driven by a higher mix of lower priced video packages within Charter’s video customer base, $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, more unfavorable bundled revenue allocation year-over-year and a decline in video customers during the last year, partly offset by promotional rate step-ups and video rate adjustments that pass through programmer rate increases.
Voice revenue decreased by 4.5% year-over-year to $331 million, driven by a decline in wireline voice customers, partly offset by voice rate adjustments.
Commercial revenue increased by 1.5% year-over-year to $1.9 billion, driven by mid-market and large business revenue growth of 2.8% year-over-year and an increase in small business revenue of 0.7%. Mid-market and large business revenue excluding wholesale increased by 3.5% year-over-year, mostly reflecting PSU growth. The year-over-year increase in second quarter 2026 small business revenue was driven by a 1.4% increase year-over-year in monthly small business revenue per small business customer, partly offset by a decline of 0.8% in small business customer relationships year-over-year.
Second quarter advertising sales revenue of $416 million increased by 12.3% compared to the year-ago quarter, primarily driven by higher political revenue. Excluding political revenue in both periods, advertising sales revenue decreased by 4.6% year-over-year driven by lower linear advertising revenue, partly offset by higher streaming advertising revenue.
Other revenue totaled $894 million in the second quarter, an increase of 7.1% compared to the second quarter of 2025, primarily driven by higher mobile device sales, partly offset by a $45 million one-time benefit in the prior year period.
Operating Costs and Expenses
Second quarter total operating costs and expenses were flat year-over-year at $8.1 billion, primarily driven by lower programming costs, offset by higher other costs of revenue and higher transition expenses.
Second quarter programming costs decreased by $218 million, or 9.7% as compared to the second quarter of 2025, reflecting $251 million of costs allocated to programmer streaming applications and netted within video revenue versus $67 million in the prior year period, a higher mix of lower cost packages within Charter’s video customer base and fewer video customers, partly offset by contractual programming rate increases and renewals.
Other costs of revenue increased by $186 million, or 11.3% year-over-year, primarily driven by higher mobile device sales, higher mobile service direct costs and higher advertising sales costs given higher political revenue.
Field and technology operations expenses increased by $21 million, or 1.6% year-over-year, primarily driven by higher vehicle fuel costs and medical expenses.
Customer operations expenses increased by $8 million, or 1.1% year-over-year, driven by medical expenses.
Marketing and residential sales expenses decreased by $31 million or 3.1% year-over-year, due to lower marketing expenses from cost savings, despite higher marketing activity.
Transition expenses represent incremental costs incurred to prepare for the integration of the previously announced Cox transaction.
Other expenses decreased by $27 million, or 2.5% as compared to the second quarter of 2025, primarily driven by lower professional services expense.
Net Income Attributable to Charter Shareholders
Net income attributable to Charter shareholders totaled $1.3 billion in the second quarter of 2026 and 2025, with lower Adjusted EBITDA offset by a gain on extinguishment of debt related to open market debt repurchases in the second quarter of 2026.
Net income per basic common share attributable to Charter shareholders totaled $10.76 in the second quarter of 2026 compared to $9.41 during the same period last year. The increase was primarily the result of a 13.1% decrease in basic weighted average common shares outstanding versus the prior year period.
Adjusted EBITDA
Second quarter Adjusted EBITDA of $5.4 billion declined by 4.3% year-over-year, reflecting a decline in revenue of 1.7%, while operating costs and expenses remained flat. Excluding transition expenses, Adjusted EBITDA declined 3.2% year-over-year.
Capital Expenditures
Capital expenditures totaled $2.9 billion in the second quarter of 2026, in-line with the prior year period, with lower line extension spend offset by higher upgrade/rebuild (primarily network evolution).
Charter continues to expect full year 2026 capital expenditures, excluding impacts from the previously announced Cox transaction, to total approximately $11.4 billion. The actual amount of capital expenditures in 2026 will depend on a number of factors including, but not limited to, the pace of Charter’s network evolution and expansion initiatives, supply chain timing and growth rates in Charter’s residential and commercial businesses.
Cash Flow and Free Cash Flow
During the second quarter of 2026, net cash flows from operating activities totaled $3.9 billion, an increase from $3.6 billion in the prior year. The year-over-year increase was primarily due to lower cash taxes, partly offset by lower Adjusted EBITDA.
Free cash flow in the second quarter of 2026 totaled $969 million, a decrease of $77 million compared to the second quarter of 2025. The year-over-year decrease in free cash flow was driven by an unfavorable change in accrued expenses related to capital expenditures, partly offset by higher net cash flows from operating activities.
Liquidity & Financing
As of June 30, 2026, total principal amount of debt was $93.8 billion and Charter’s credit facilities provided approximately $3.7 billion of additional liquidity in excess of Charter’s $509 million cash position.
During the three months ended June 30, 2026, Charter purchased $1.2 billion in aggregate principal amount of various Charter Communications Operating, LLC and CCO Holdings, LLC notes under an open market repurchase program for $1.0 billion in cash.
Share Repurchases
During the three months ended June 30, 2026, Charter purchased 4.0 million shares of Charter Class A common stock for $838 million.
Webcast
Charter will host a webcast on Friday, July 24, 2026 at 8:00 a.m. Eastern Time (ET) related to the contents of this release.
The webcast can be accessed live via the Company’s investor relations website at ir.charter.com. Participants should go to the webcast link no later than 10 minutes prior to the start time to register. The webcast will be archived at ir.charter.com two hours after completion of the webcast.
Additional Information Available on Website
The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, which will be posted on the “Results & SEC Filings” section of the Company’s investor relations website at ir.charter.com, when it is filed with the Securities and Exchange Commission (the “SEC”). A slide presentation to accompany the conference call and a trending schedule containing historical customer and financial data will also be available in the “Results & SEC Filings” section.
Use of Adjusted EBITDA and Free Cash Flow Information
The Company uses certain measures that are not defined by U.S. generally accepted accounting principles (“GAAP”) to evaluate various aspects of its business. Adjusted EBITDA and free cash flow are non-GAAP financial measures and should be considered in addition to, not as a substitute for, net income attributable to Charter shareholders and net cash flows from operating activities reported in accordance with GAAP. These terms, as defined by Charter, may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and free cash flow are reconciled to net income attributable to Charter shareholders and net cash flows from operating activities, respectively, in the Addendum to this release.
Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other income (expenses), net and other operating (income) expenses, net, such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of the Company’s businesses as well as other non-cash or special items, and is unaffected by the Company’s capital structure or investment activities. However, this measure is limited in that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues and the cash cost of financing. These costs are evaluated through other financial measures.
Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.
Management and Charter’s board of directors use Adjusted EBITDA and free cash flow to assess Charter’s performance and its ability to service its debt, fund operations and make additional investments with internally generated funds. In addition, Adjusted EBITDA generally correlates to the leverage ratio calculation under the Company’s credit facilities or outstanding notes to determine compliance with the covenants contained in the facilities and notes (all such documents have been previously filed with the SEC). For the purpose of calculating compliance with leverage covenants, the Company uses Adjusted EBITDA, as presented, excluding certain expenses paid by its operating subsidiaries to other Charter entities. The Company’s debt covenants refer to these expenses as management fees, which were $336 million and $702 million for the three and six months ended June 30, 2026, respectively, and $366 million and $732 million for the three and six months ended June 30, 2025, respectively.
About Charter
Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company with services available to nearly 59 million homes and small to large businesses across 41 states through its Spectrum brand. Founded in 1993, Charter has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.
More information about Charter can be found at corporate.charter.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Although we believe that our plans, intentions and expectations as reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions including, without limitation, the factors described under “Risk Factors” from time to time in our filings with the SEC. Many of the forward-looking statements contained in this communication may be identified by the use of forward-looking words such as “believe,” “future,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” “aim,” “on track,” “target,” “opportunity,” “tentative,” “positioning,” “designed,” “create,” “predict,” “project,” “initiatives,” “seek,” “would,” “could,” “continue,” “ongoing,” “upside,” “increases,” “grow,” “focused on” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this communication are set forth in our annual report on Form 10-K, and in other reports or documents that we file from time to time with the SEC, and include, but are not limited to:
our ability to sustain and grow revenues and cash flow from operations by offering Internet, mobile, video, voice, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures;the impact of competition from other market participants, including but not limited to incumbent telephone companies, direct broadcast satellite (“DBS”) operators, wireless and satellite broadband and telephone providers, digital subscriber line (“DSL”) providers, fiber to the home providers and providers of video content over broadband Internet connections;general business conditions, unemployment levels and the level of activity in the housing sector and economic uncertainty or downturn;our ability to develop and deploy new products and technologies including consumer services and service platforms;any events that disrupt our networks, information systems or properties and impair our operating activities or our reputation;the effects of governmental regulation on our business including subsidies to consumers, subsidies and incentives for competitors, costs, disruptions and possible limitations on operating flexibility related to, and our ability to comply with, regulatory conditions applicable to us;our ability to procure necessary services and equipment from our vendors in a timely manner and at reasonable costs including in connection with our network evolution and rural construction initiatives;our ability to obtain programming at reasonable prices or to raise prices to offset, in whole or in part, the effects of higher programming costs (including retransmission consents and distribution requirements);the ability to hire and retain key personnel;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets;our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions;our ability to satisfy the conditions to consummate the Liberty Broadband Combination and/or the Cox Transactions and/or to consummate the Liberty Broadband Combination and/or the Cox Transactions in a timely manner or at all;the risks related to us being restricted in the operation of our business while the Liberty Broadband Merger Agreement and the Cox Communications Transaction Agreement are in effect;other risks related to the Liberty Broadband Combination as described in the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein; andother risks related to the Cox Transactions as described in the definitive proxy statement with respect to the Cox Transactions, filed by Charter on July 2, 2025, including the sections entitled “Risk Factors” and “Where You Can Find More Information” included therein.
All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. We are under no duty or obligation to update any of the forward-looking statements after the date of this communication.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO GAAP MEASURES
(dollars in millions)
Three Months Ended
June 30,
Six Months Ended
June 30,
Last Twelve Months
Ended June 30,
2026
2025
2026
2025
2026
2025
Net income attributable to Charter shareholders
$ 1,292
$ 1,301
$ 2,455
$ 2,518
$ 4,924
$ 5,264
Plus: Net income attributable to noncontrolling interest
232
194
432
386
825
790
Interest expense, net
1,276
1,263
2,532
2,504
5,070
5,089
Income tax expense
475
414
940
859
1,773
1,635
Depreciation and amortization
2,197
2,176
4,408
4,357
8,762
8,670
Stock compensation expense
138
157
341
379
635
663
Other, net
(161)
188
(22)
453
349
752
Adjusted EBITDA (a)
$ 5,449
$ 5,693
$ 11,086
$ 11,456
$ 22,338
$ 22,863
Net cash flows from operating activities
$ 3,925
$ 3,600
$ 8,229
$ 7,836
$ 16,470
$ 15,201
Less: Purchases of property, plant and equipment
(2,871)
(2,874)
(5,726)
(5,273)
(12,112)
(10,898)
Change in accrued expenses related to capital expenditures
(85)
320
(162)
47
377
910
Free cash flow (a)
$ 969
$ 1,046
$ 2,341
$ 2,610
$ 4,735
$ 5,213
The above schedule is presented in order to reconcile Adjusted EBITDA and free cash flow, non-GAAP measures, to the most directly comparable GAAP measures in accordance with Section 401(b) of the Sarbanes-Oxley Act.
UNAUDITED ALTERNATIVE PRESENTATION OF ADJUSTED EBITDA
(dollars in millions)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
% Change
2026
2025
% Change
REVENUES:
Internet
$ 5,776
$ 5,969
(3.2) %
$ 11,628
$ 11,899
(2.3) %
Mobile service
1,095
921
18.9 %
2,147
1,835
17.0 %
Connectivity
6,871
6,890
(0.3) %
13,775
13,734
0.3 %
Video
3,149
3,488
(9.7) %
6,401
7,068
(9.4) %
Voice
331
346
(4.5) %
669
702
(4.7) %
Residential revenue
10,351
10,724
(3.5) %
20,845
21,504
(3.1) %
Small business
1,104
1,096
0.7 %
2,194
2,184
0.4 %
Mid-market & large business
761
740
2.8 %
1,510
1,474
2.4 %
Commercial revenue
1,865
1,836
1.5 %
3,704
3,658
1.2 %
Advertising sales
416
371
12.3 %
774
711
9.0 %
Other
894
835
7.1 %
1,800
1,628
10.6 %
Total Revenues
13,526
13,766
(1.7) %
27,123
27,501
(1.4) %
COSTS AND EXPENSES:
Programming
2,035
2,253
(9.7) %
4,123
4,555
(9.5) %
Other costs of revenue
1,837
1,651
11.3 %
3,602
3,235
11.3 %
Field and technology operations
1,313
1,292
1.6 %
2,571
2,574
(0.1) %
Customer operations
785
777
1.1 %
1,551
1,549
0.2 %
Marketing and residential sales
927
958
(3.1) %
1,846
1,907
(3.2) %
Transition expenses (b)
65
—
n/a
89
—
n/a
Other expense (c)
1,115
1,142
(2.5) %
2,255
2,225
1.3 %
Total operating costs and expenses (c)
8,077
8,073
— %
16,037
16,045
(0.1) %
Adjusted EBITDA (a)
$ 5,449
$ 5,693
(4.3) %
$ 11,086
$ 11,456
(3.2) %
All percentages are calculated using whole numbers. Minor differences may exist due to rounding. See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in millions, except per share data)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
REVENUES
$ 13,526
$ 13,766
$ 27,123
$ 27,501
COSTS AND EXPENSES:
Operating costs and expenses (exclusive of items shown separately below)
8,215
8,230
16,378
16,424
Depreciation and amortization
2,197
2,176
4,408
4,357
Other operating expenses, net
51
81
66
204
10,463
10,487
20,852
20,985
Income from operations
3,063
3,279
6,271
6,516
OTHER INCOME (EXPENSES):
Interest expense, net
(1,276)
(1,263)
(2,532)
(2,504)
Other income (expenses), net
212
(107)
88
(249)
(1,064)
(1,370)
(2,444)
(2,753)
Income before income taxes
1,999
1,909
3,827
3,763
Income tax expense
(475)
(414)
(940)
(859)
Consolidated net income
1,524
1,495
2,887
2,904
Less: Net income attributable to noncontrolling interests
(232)
(194)
(432)
(386)
Net income attributable to Charter shareholders
$ 1,292
$ 1,301
$ 2,455
$ 2,518
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CHARTER SHAREHOLDERS:
Basic
$ 10.76
$ 9.41
$ 20.00
$ 18.00
Diluted
$ 10.66
$ 9.18
$ 19.81
$ 17.59
Weighted average common shares outstanding, basic
120,121,017
138,205,810
122,789,924
139,889,251
Weighted average common shares outstanding, diluted
121,255,667
141,684,415
123,969,262
143,098,493
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in millions)
June 30,
December 31
2026
2025
ASSETS
(unaudited)
CURRENT ASSETS:
Cash and cash equivalents
$ 509
$ 477
Accounts receivable, net
3,651
3,680
Prepaid expenses and other current assets
813
987
Total current assets
4,973
5,144
INVESTMENT IN CABLE PROPERTIES:
Property, plant and equipment, net
47,955
46,444
Customer relationships, net
238
440
Franchises
67,471
67,471
Goodwill
29,710
29,710
Total investment in cable properties, net
145,374
144,065
OTHER NONCURRENT ASSETS
5,271
5,004
Total assets
$ 155,618
$ 154,213
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable, accrued and other current liabilities
$ 12,779
$ 12,556
Current portion of long-term debt
999
750
Total current liabilities
13,778
13,306
LONG-TERM DEBT
92,960
94,006
EQUIPMENT INSTALLMENT PLAN FINANCING FACILITY
1,596
1,447
DEFERRED INCOME TAXES
20,237
19,841
OTHER LONG-TERM LIABILITIES
5,146
5,094
SHAREHOLDERS’ EQUITY:
Controlling interest
16,952
16,054
Noncontrolling interests
4,949
4,465
Total shareholders’ equity
21,901
20,519
Total liabilities and shareholders’ equity
$ 155,618
$ 154,213
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in millions)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income
$ 1,524
$ 1,495
$ 2,887
$ 2,904
Adjustments to reconcile consolidated net income to net cash flows from operating activities:
Depreciation and amortization
2,197
2,176
4,408
4,357
Stock compensation expense
138
157
341
379
Noncash interest, net
6
7
12
15
Deferred income taxes
203
(53)
417
(80)
Other, net
(212)
117
(86)
350
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:
Accounts receivable
(141)
(238)
(136)
(286)
Prepaid expenses and other assets
(3)
66
4
(169)
Accounts payable, accrued liabilities and other
213
(127)
382
366
Net cash flows from operating activities
3,925
3,600
8,229
7,836
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment
(2,871)
(2,874)
(5,726)
(5,273)
Change in accrued expenses related to capital expenditures
(85)
320
(162)
47
Other, net
(243)
(67)
(285)
(199)
Net cash flows from investing activities
(3,199)
(2,621)
(6,173)
(5,425)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt
4,394
3,723
11,610
5,116
Borrowings of equipment installment plan financing facility
—
112
148
233
Repayments of long-term debt
(4,609)
(3,184)
(12,108)
(4,793)
Payments for debt issuance costs
—
(1)
(30)
(1)
Purchase of treasury stock
(852)
(1,451)
(1,878)
(2,253)
Proceeds from exercise of stock options
11
2
13
19
Purchase of noncontrolling interest
—
(232)
—
(252)
Distributions to noncontrolling interest
(20)
(121)
(22)
(124)
Other, net
327
(44)
212
(213)
Net cash flows from financing activities
(749)
(1,196)
(2,055)
(2,268)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH
(23)
(217)
1
143
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period
622
866
598
506
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period
$ 599
$ 649
$ 599
$ 649
CASH PAID FOR INTEREST
$ 1,439
$ 1,444
$ 2,506
$ 2,439
As of June 30, 2026, March 31, 2026, December 31, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, cash, cash equivalents and restricted cash includes $90 million, $105 million, $121 million, $43 million, $70 million and $47 million of restricted cash included in prepaid expenses and other current assets in the consolidated balance sheets, respectively.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED SUMMARY OF OPERATING STATISTICS
(in thousands, except per customer and penetration data)
Approximate as of
June 30,
2026 (d)
March 31,
2026 (d)
December 31,
2025 (d)
June 30,
2025 (d)
Footprint
Estimated Passings (e)
58,981
58,661
58,399
57,540
Customer Relationships (f)
Residential
29,276
29,452
29,609
29,819
Small Business
2,223
2,231
2,237
2,241
Total Customer Relationships
31,499
31,683
31,846
32,060
Residential
(176)
(157)
(125)
(95)
Small Business
(8)
(6)
(2)
(5)
Total Customer Relationships Quarterly Net Additions
(184)
(163)
(127)
(100)
Total Customer Relationship Penetration of Estimated Passings (g)
53.4 %
54.0 %
54.5 %
55.7 %
Monthly Residential Revenue per Residential Customer (h)
$ 117.52
$ 118.44
$ 117.19
$ 119.70
Monthly Small Business Revenue per Small Business Customer (i)
$ 165.27
$ 162.71
$ 159.85
$ 162.91
Residential Customer Relationships Penetration (j)
One Product Penetration
47.4 %
47.7 %
48.0 %
48.7 %
Two Product Penetration
35.1 %
34.8 %
34.5 %
33.8 %
Three or More Product Penetration
17.6 %
17.5 %
17.5 %
17.5 %
Connectivity (k)
Residential
28,306
28,446
28,563
28,705
Small Business
2,069
2,074
2,077
2,076
Total Connectivity Customers
30,375
30,520
30,640
30,781
Residential
(140)
(117)
(95)
(53)
Small Business
(5)
(3)
—
(4)
Total Connectivity Quarterly Net Additions
(145)
(120)
(95)
(57)
Internet
Residential
27,358
27,524
27,641
27,868
Small Business
2,030
2,036
2,039
2,040
Total Internet Customers
29,388
29,560
29,680
29,908
Residential
(166)
(117)
(119)
(111)
Small Business
(6)
(3)
—
(5)
Total Internet Quarterly Net Additions
(172)
(120)
(119)
(116)
Mobile Lines (l)
Residential
12,099
11,714
11,370
10,502
Small Business
441
420
396
354
Total Mobile Lines
12,540
12,134
11,766
10,856
Residential
385
344
406
471
Small Business
21
24
22
20
Total Mobile Lines Quarterly Net Additions
406
368
428
491
Video (m)
Residential
12,010
12,021
12,072
12,087
Small Business
514
524
533
544
Total Video Customers
12,524
12,545
12,605
12,631
Residential
(11)
(51)
49
(73)
Small Business
(10)
(9)
(5)
(7)
Total Video Quarterly Net Additions
(21)
(60)
44
(80)
Voice
Residential
4,494
4,665
4,832
5,161
Small Business
1,200
1,207
1,214
1,225
Total Voice Customers
5,694
5,872
6,046
6,386
Mid-Market & Large Business (n)
Mid-Market & Large Business Primary Service Units (“PSUs”)
364
360
357
350
Mid-Market & Large Business Quarterly Net Additions
4
3
3
6
See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
UNAUDITED CAPITAL EXPENDITURES
(dollars in millions)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Customer premise equipment (o)
$ 654
$ 593
$ 1,322
$ 1,066
Scalable infrastructure (p)
336
371
646
664
Upgrade/rebuild (q)
657
457
1,332
852
Support capital (r)
494
425
884
785
Capital expenditures, excluding line extensions
2,141
1,846
4,184
3,367
Subsidized rural construction line extensions
390
543
816
1,010
Other line extensions
340
485
726
896
Total line extensions (s)
730
1,028
1,542
1,906
Total capital expenditures
$ 2,871
$ 2,874
$ 5,726
$ 5,273
Capital expenditures included in total related to:
Commercial services
$ 293
$ 324
$ 579
$ 597
Subsidized rural construction initiative (t)
$ 391
$ 545
$ 818
$ 1,013
Mobile
$ 70
$ 59
$ 129
$ 112
Transition (b)
$ 34
$ —
$ 37
$ —
See footnotes on page 7.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
FOOTNOTES
(a)
Adjusted EBITDA is defined as net income attributable to Charter shareholders plus net income attributable to noncontrolling interest, net interest expense, income taxes, depreciation and amortization, stock compensation expense, other (income) expenses, net and other operating (income) expenses, net such as special charges, merger and acquisition costs and (gain) loss on sale or retirement of assets. As such, it eliminates the significant non-cash depreciation and amortization expense that results from the capital-intensive nature of our businesses as well as other non-cash or special items, and is unaffected by our capital structure or investment activities. Free cash flow is defined as net cash flows from operating activities, less capital expenditures and changes in accrued expenses related to capital expenditures.
(b)
Transition represents incremental costs incurred to prepare for the integration of Cox Communications’ operations and to bring systems and processes into a uniform operating structure.
(c)
Other expense excludes stock compensation expense. Total operating costs and expenses excludes stock compensation expense, depreciation and amortization and other operating (income) expenses, net.
(d)
We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies. On that basis, at June 30, 2026, March 31, 2026, December 31, 2025 and June 30, 2025, customers included approximately 84,000, 87,600, 82,300 and 99,400 customers, respectively, whose accounts were over 60 days past due, approximately 10,100, 7,800, 9,700 and 11,600 customers, respectively, whose accounts were over 90 days past due and approximately 13,400, 13,600, 13,600 and 18,900 customers, respectively, whose accounts were over 120 days past due.
(e)
Passings represent our estimate of the number of units, such as single family homes, apartment and condominium units and small business and mid-market & large business sites passed by our cable distribution network in the areas where we offer the service indicated. These estimates are based upon the information available at this time and are updated for all periods presented when new information becomes available.
(f)
Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive. Customers who reside in residential multiple dwelling units (“MDUs”) and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU. Total customer relationships exclude mid-market & large business customer relationships.
(g)
Penetration represents residential and small business customers as a percentage of estimated passings.
(h)
Monthly residential revenue per residential customer is calculated as total residential quarterly revenue divided by three divided by average residential customer relationships during the respective quarter.
(i)
Monthly small business revenue per small business customer is calculated as total small business quarterly revenue divided by three divided by average small business customer relationships during the respective quarter.
(j)
One product, two product and three or more product penetration represents the number of residential customers that subscribe to one product, two products or three or more products, respectively, as a percentage of residential customer relationships.
(k)
Connectivity customers represent all customers receiving our Internet and/or mobile connectivity services.
(l)
Mobile lines include phones and tablets which require one of our standard rate plans (e.g., “Unlimited” or “By the Gig”). Mobile lines exclude wearables and other devices that do not require standard phone rate plans.
(m)
Video customers only include customers that purchase Spectrum traditional or streaming linear video packages and exclude customers that only purchase streaming applications.
(n)
Mid-market & large business PSUs represents the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.
(o)
Customer premise equipment includes equipment and devices located at the customer’s premise used to deliver our Internet, video and voice services (e.g., modems, routers and set-top boxes), as well as installation costs.
(p)
Scalable infrastructure includes costs, not related to customer premise equipment or our network, to secure growth of new customers or provide service enhancements (e.g., headend equipment).
(q)
Upgrade/rebuild includes costs to modify or replace existing fiber/coaxial cable networks, including our network evolution initiative.
(r)
Support capital includes costs associated with the replacement or enhancement of non-network assets (e.g., back-office systems, non-network equipment, land and buildings, vehicles, tools and test equipment).
(s)
Line extensions include network costs associated with entering new service areas (e.g., fiber/coaxial cable, amplifiers, electronic equipment, make-ready and design engineering).
(t)
The subsidized rural construction initiative subcategory includes projects for which we are receiving subsidies from federal, state and local governments, excluding customer premise equipment and installation.
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SOURCE Charter Communications, Inc.
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