Shares of Altice USA Inc. fell 5% in after-hours trading Wednesday after the telecommunications company, which operates the Optimum brand, swung to a loss in its latest quarter.
Altice... Shares of Altice USA Inc. fell 5% in after-hours trading Wednesday after the telecommunications company, which operates the Optimum brand, swung to a loss in its latest quarter. Altice ATUS posted adjusted earnings before interest, taxes, depreciation, and amortization of $913 million, down from $1.08 billion a year before, while analysts were modeling $947 million.
While the company saw residential-ending customer relationships fall by 16,200 and broadband-ending subscribers decline by 7,700 in the fourth quarter relative to the third quarter, the sequential drops in subscribers were smaller than those seen in each of the prior two quarters.