Published on 3 May 2024 on Zacks via Yahoo Finance
Altice (ATUS) Incurs Q1 Loss on Lower Revenues, Higher Costs
Altice USA, Inc. ATUS reported soft first-quarter 2024 results, with the top line surpassing the Zacks Consensus Estimate but the bottom line missing the same. The company reported a revenue decline year over year, owing to soft demand trends in the Residential, News and Advertising segments. However, growth in mobile line and fiber customer net additions, focus on network upgrades, improving customer care, AI integration and financial discipline were positives.
Bottom Line
Altice reported a net loss of $21.2 million or a loss of 5 cents per share against a net income of $25.9 million or 6 cents per share in the prior-year quarter. The sharp year-over-year decline was due to top-line contraction and higher interest expenses. The bottom line missed the Zacks Consensus Estimate by 6 cents.