NEW YORK - Altice USA (NYSE:ATUS) shares rose 3.89% following the company's first-quarter earnings release, which revealed a slight revenue beat. The broadband communications and video services provider reported a first-quarter loss per share (EPS) of -$0.05, which was below the analyst consensus estimate of $0.00.
However, the company's revenue outperformed expectations, coming in at $2.25 billion against a consensus estimate of $2.24 billion.
The company's total revenue of $2.3 billion marked a 1.9% decrease from the same quarter last year. Despite this year-over-year (YoY) decline, the residential revenue per user (ARPU) saw a marginal increase of 0.3%, or $0.35, to $135.67. Business services revenue experienced a slight uptick of 0.3% YoY, while Lightpath revenue grew by 3.6%. News and Advertising revenue also showed a robust increase of 7.1% YoY, or 1.8% excluding political advertising revenue.
Altice USA's Chairman and CEO, Dennis Mathew, commented on the results, stating, "Our first-quarter results are reflective of the progress we are making to improve our operations and financial performance, which we are confident will set us on a path to achieve sustainable long-term growth." He highlighted the company's positive free cash flow and the growth in fiber and mobile customer bases as indicators of improvement across key operational and customer experience metrics.
The company's focus on customer profitability and improved financial trends in customer ARPU and revenue was evident in the quarter. Altice USA also reported net losses in broadband primary service units (PSUs) of -30k, which was a larger loss compared to -19k in the first quarter of the previous year.
Nevertheless, the company made strides in enhancing customer experience, leading to higher satisfaction scores, and continued to make progress in building a quality broadband network, as evidenced by its Optimum Fiber Internet network being recognized for delivering New York and New Jersey's fastest and most reliable internet speeds.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.