Key Highlights

  • Third-quarter 2026 Revenue was $2.000 billion, against $2.108 billion in the third quarter of 2025.
  • Net loss attributable to stockholders was $2.884 billion, or $10.24 per share, against $1.194 billion, or $2.55 per share.
  • The company recorded a non-cash Impairment of $3.2 billion on indefinite-lived cable Franchise rights.
  • Mobile service revenue was $56.8 million, against $42.3 million a year earlier.
  • Video revenue was $571.8 million, against $645.2 million.

Optimum Communications (NYSE:OPTU), the cable and broadband provider that operates through CSC Holdings, reported third-quarter 2026 results before the market opened on Friday. Revenue was $2.000 billion, compared with $2.108 billion a year earlier. Market estimates had pointed to revenue of $1.99 billion.

Operating loss was $3.059 billion, against $1.165 billion. Net loss was $2.858 billion, compared with $1.190 billion, and net loss attributable to Optimum Communications stockholders was $2.884 billion, or $10.24 per share, against $1.194 billion, or $2.55 per share.

Impairment Charges Weigh on Results

Restructuring, impairments and other operating items totaled $3.430 billion in the quarter, against $1.568 billion a year earlier. The company recorded a non-cash impairment charge of $3.2 billion related to its indefinite-lived cable franchise rights. For the nine months, the franchise rights impairment was $5.9 billion, compared with $1.611 billion in the same period of 2025.

For the nine months, revenue was $6.089 billion, against $6.408 billion, and net loss attributable to stockholders was $5.336 billion, or $13.38 per share, against $1.365 billion, or $2.92 per share.

Video and Mobile Revenue Move in Opposite Directions

Video revenue was $571.8 million for the quarter, compared with $645.2 million a year earlier. Mobile service revenue was $56.8 million, compared with $42.3 million, an increase of 34%.

The filing reports a tax benefit of $680.2 million on a pre-tax loss of $3.538 billion for the quarter. Cash and cash equivalents were $1.101 billion on Sept. 30, against $1.012 billion on Dec. 31, 2025.

Tender Offer Reduces Shares Outstanding

In July 2026, an indirect Wholly Owned Subsidiary of Optimum Communications completed a tender offer, and the filing shows 131.8 million Class A shares and 74.2 million Class B shares held in treasury at Sept. 30. Class A shares outstanding were 164.5 million, against 287.4 million at Dec. 31, 2025. Basic and diluted weighted average common shares were 281.7 million in the quarter, against 468.7 million a year earlier.

Franchise Valuation and Share Count Frame the Quarter

The size of the franchise rights impairment and the lower share count are the two items that separate the per-share result from the prior-year quarter. Future filings will show how the revised carrying value and the reduced share base carry into subsequent periods.