Published on 3 Nov 2022 on Zacks via Yahoo Finance
Altice (ATUS) Misses Q3 Earnings Estimates on Lower Revenues
Altice USA, Inc. ATUS reported soft third-quarter 2022 results, wherein the bottom line and top line missed the respective Zacks Consensus Estimate and declined year over year due to the challenging macroeconomic environment. Nevertheless, the company has been accelerating the pace of network rollouts and expects to enhance customer connection with its rebranding campaign, thereby reporting improved performances in the long run.
Net Income
Net income in the quarter declined to $85 million or 19 cents per share from $266.9 million or 58 cents per share in the prior-year quarter, primarily due to top-line contraction. The bottom line missed the Zacks Consensus Estimate by 15 cents.