Altice USA shares rise 3.8% as first-quarter revenue beats forecast

NEW YORK – Altice USA (NYSE: ATUS ) shares rose 3.89% after the company reported first-quarter earnings, which showed a slight increase in revenue. The provider of broadband communications and video services reported first-quarter loss per share (EPS) of -$0.05, missing analysts' consensus estimate of $0.00.

However, the company's revenue beat expectations, reaching $2.25 billion, compared with the consensus estimate of $2.24 billion.

The company's total revenue was $2.3 billion, down 1.9% from the same period last year. Despite the year-over-year (YoY) decline, residential revenue per user (ARPU) edged up 0.3%, or $0.35, to $135.67. Business services revenue edged up 0.3% from last year, while Lightpath revenue grew 3.6%. News and advertising revenue also grew strongly by 7.1% year-over-year, or 1.8% excluding political advertising revenue.

Dennis Mathew, chairman and chief executive officer of Altice USA, commented on the results: “Our first quarter results reflect the progress we have made in improving our operating and financial performance, which we believe puts us on the path to achieving this goal. path to sustainable long-term growth. He highlighted the company's positive free cash flow and growth in its fiber and mobile customer base as indicators of improvements in key operating and customer experience metrics.

The company's focus on customer profitability and improving financial trends in customer ARPU and revenue were evident during the quarter. Altice USA also reported a broadband primary service unit (PSU) net loss of -30k, which was a wider loss than last year's first quarter of -19k.

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Nonetheless, the company has made strides in enhancing customer experience, resulting in higher satisfaction scores, and continues to make progress in building a premium broadband network, with its Optimum Fiber network being recognized for delivery in New York and New Jersey The fastest, most reliable internet proves it.

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