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BEVERLY, Mass. - ATN International, Inc. (NASDAQ:ATNI) reported fourth quarter earnings that beat expectations but revenue fell short of estimates, sending shares down 2.2% in after-hours trading Tuesday.
The digital infrastructure and communications services provider posted adjusted earnings per share of $0.14, surpassing the analyst consensus of -$0.16. However, revenue came in at $94.77 million, significantly below the $181.73 million analysts were expecting.
For the fourth quarter, total revenue declined 9% YoY to $180.5 million, impacted by the conclusion of the Emergency Connectivity Fund program. Full-year 2024 revenue fell 4% to $729.1 million.
"Our fourth quarter results close out a year of resilience and adaptability as we navigated an evolving industry landscape while remaining focused on disciplined execution," said Brad Martin, ATN’s Chief Executive Officer.
The company grew its high-speed subscriber base by 3% and expanded high-speed broadband homes passed by 16% in 2024.
Looking ahead, ATN expects 2025 revenue to be in line with last year, excluding construction revenue. Adjusted EBITDA is forecast to be essentially flat compared to 2024.
ATN maintained its quarterly dividend of $0.24 per share, payable on January 5, 2025 to stockholders of record as of December 31, 2024.
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