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NEW YORK - Altice USA reported fourth-quarter results on Thursday that fell short of analyst expectations, sending shares down 1.11% in after-hours trading.
The telecommunications company posted adjusted earnings per share of -$0.12, missing the consensus estimate of $0.04 by $0.16. Revenue for the quarter came in at $2.23 billion, slightly below the $2.24 billion analysts had projected and down 2.9% YoY.
Despite the earnings miss, Altice USA highlighted strong growth in its fiber and mobile businesses. The company added a record 57,000 fiber customers in Q4, bringing its total fiber customer base to 538,000 - a 58% increase compared to the end of 2023.
"2024 was a transformative year for Optimum, marked by significant progress in strengthening our operations, enhancing customer experiences, and reinforcing financial discipline," said Dennis Mathew, Altice USA Chairman and CEO.
Total (EPA:TTEF) broadband primary service units saw net losses of 39,000 in Q4 and 170,000 for the full year 2024.
The company cited low switching activity, competitive pressures, and muted trends in the income-constrained segment as factors impacting broadband performance.
For 2025, the company plans to focus on improving broadband subscriber trends, growing mobile penetration, expanding its B2B product portfolio, and enhancing operational efficiency.
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