Altice USA stock sinks after tough third quarter earnings

's shares dropped more than 20% and trading in the stock was briefly halted Thursday, after the company posted a weak earnings report.

The company, which provides broadband, cable-TV, wireless and phone services, saw its shares sink following Wednesday's earningsthat net income and revenue fell as Altice lost subscribers and continued to spend significantly on the rollout of its fiber network. Altice's net income for the third quarter fell to $85 million from about $267 million compared to the same period last year. Earnings per share on a diluted basis fell to 19 cents from 58 cents last year.The company's revenue fell 7% to $2.39 billion, due to the decline in residential and business services customers. Adjusted earnings before interest, taxes, depreciation and amortization fell 18% to $954.4 million compared with the prior year.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

USA & UAE Team Up On Clean Energy — $100 Billion InvestmentStatement by White House Press Secretary Karine Jean-Pierre on the U.S.-UAE Partnership to Accelerate Transition to Clean Energy (PACE) Today the United States joined with the United Arab Emirates in taking a bold step toward the resilient, $100B for 100 gigawatts by 2035? „In 2021, the total consumption of electricity by the commercial sector of the emirate of Dubai in the United Arab Emirates exceeded approximately 24.2 terawatt-hours.“ bla bla bla? 🤔
Bron: cleantechnica - 🏆 565. / 51 Lees verder »