Charter Communications reported a $2.4 billion third-quarter net loss attributable to shareholders after recording a $6.3 billion franchise impairment charge, compared with net income of $1.1 billion a year earlier. The loss was $20.50 per share, versus an analyst estimate of $9.54, while revenue rose 9.1% to $14.92 billion on an actual basis following the Cox Communications deal. On a pro forma basis, which treats the deal as completed on Jan. 1, 2024, Charter lost 233,000 Internet customers, compared with 171,000 a year earlier, and revenue fell 1.5% to $16.51 billion. The company described the response as a fundamental redesign of how it competes, including changes to its core Internet service to attract new customers and retain existing ones. It also plans to cut about $2 billion in annualized run-rate operating expenses over the next 18 months, in addition to more than $1 billion of expected Cox synergies, as it seeks to restore customer growth.