Altice Usa ( (ATUS) ) has released its Q3 earnings. Here is a breakdown of the information Altice Usa presented to its investors.
Altice USA is one of the largest broadband communications and video services providers in the United States, offering a wide range of services including broadband, video, mobile, and advertising through its Optimum brand to approximately 4.6 million customers across 21 states.
In the third quarter of 2024, Altice USA reported significant growth in its fiber and mobile segments, despite a decline in overall revenue. The company has been focusing on strengthening its networks and operations, with an eye on long-term growth opportunities.
The company reported a total revenue of $2.2 billion, marking a 3.9% decrease year-over-year. Residential revenue declined by 5.6% to $1.7 billion, while business services remained stable. Notably, the news and advertising segment saw a 9.5% increase. Altice USA’s adjusted EBITDA dropped by 5.8% to $862 million with a margin of 38.7%. The company also reported a net loss of $43 million attributable to stockholders, a significant drop from the $66.8 million profit seen in the same quarter last year.
Altice USA has continued to expand its fiber customer base, achieving a 63% increase in total fiber customers year-over-year. The company added 47,000 net fiber customers in Q3, and mobile line net additions reached 36,000, representing the highest increase in four years. Despite facing competitive pressures and challenges in income-constrained segments, Altice USA has made substantial progress in fiber penetration and aims to reach 3 million fiber passings by the end of 2024.
Looking forward, Altice USA aims to capitalize on revenue opportunities by improving broadband subscriber trends, expanding its mobile lines, and launching high-margin services. The company also plans to enhance its fiber penetration and operational efficiency, with a focus on maintaining a sustainable capital structure to support its long-term growth strategy.
