Charter Communications’ first-quarter revenue tumbled 1% to $13.6 billion, missing Wall Street’s $13.55 billion forecast, amid a 120,000 subscriber loss in its internet division and a 60,000 drop in video subscribers. The company still posted net income of $1.16 billion, edging up from $1.22 billion the prior year on a per-share basis, though it underperformed FactSet’s $9.96 analyst expectation.

Subscribers are leaving as competitors like Comcast and AT&T ramp up competition, with Amazon’s AWS and Google Cloud attracting business customers to the cloud. Charter’s internet segment, which accounts for roughly 70% of revenue, has struggled to keep pace, while its video business faces pressure from streaming giants. The company’s $1.16 billion net income is the lowest since 2020, signaling a broader industry challenge of balancing retention amid shifting tech trends.

Investors are watching closely as Charter aims to reverse the subscriber decline by investing $3 billion in fiber network upgrades and bundling deals. The revenue miss raises questions about its ability to compete in a market where streaming and cloud services are eating into traditional cable. With $13.6 billion in revenue, the company’s performance will be key as it battles to retain its foothold in a rapidly evolving telecom landscape.