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Tag: NYSE: ATUS

  • Altice USA Inc. (ATUS) Active After-Hours Trading: A Comprehensive Analysis

    Altice USA Inc. (ATUS) Active After-Hours Trading: A Comprehensive Analysis

    Altice USA Inc. (ATUS) has recently made a significant impact in the after-hours trading market. The company experienced a robust volume of 9.05 million shares following the market close.

    This article provides an in-depth exploration of the company’s recent performance, key operational highlights, financial overview, and balance sheet review for the third quarter ended September 30, 2023.

    Key Operational Highlights for the Third Quarter

    Altice USA Inc. has demonstrated notable progress across various business aspects during the third quarter of 2023.

    The company’s strategic initiatives have resulted in improved financial performance, enhanced broadband subscriber relationship trends, increased mobile net additions, and significant fiber customer growth.

    Broadband Primary Service Units (PSUs) Improvement

    The company witnessed a remarkable year-over-year improvement in total broadband PSUs. There was a decrease in broadband net losses from -43k in Q3 2022 to -31k in Q3 2023, indicating an enhancement in broadband net add performance trends by 13k.

    Record Quarter for Fiber Net Additions

    Altice USA Inc. reported its best quarter for fiber net additions during Q3 2023.

    The company added 45k new fiber customers, resulting from both increased fiber gross additions and voluntary migrations of existing customers. By the end of Q3 2023, the total number of fiber broadband customers reached 295k.

    Optimum Mobile Net Add Growth Acceleration

    The company’s Optimum Mobile service has observed consistent growth for the third consecutive quarter, adding 24k mobile net additions in Q3 2023.

    This figure represents a five-fold increase over the mobile net additions in Q3 2022. As of Q3 2023, Optimum Mobile has achieved a 6.3% penetration rate within the company’s overall broadband customer base, marking an increase from 5.1% in Q3 2022.

    Enhanced Customer Experience Leading to Higher Satisfaction Scores

    Altice USA Inc. has made significant strides in improving its customer experience, leading to increased satisfaction scores.

    The company has seen a 22-point improvement in transactional NPS score in Q3 2023 compared to Q3 2022. Additionally, there has been a 71% increase in the self-install rate for qualified new customers during the same period.

    Delivering Best-in-Class Network Experiences

    The company continues to progress in building and delivering top-tier network experiences. It added 61k new FTTH passings in the quarter, reaching a total of 2.72 million passings. Additionally, the company expanded the availability of its Optimum 8 Gig symmetrical Fiber service to its entire East fiber footprint, making it the largest residential 8-gig service in the nation.

    Third Quarter Financial Overview

    Altice USA Inc. disclosed its Q3 2023 financial results, reporting total revenue of $2.32 billion.

    Despite a 3.2% year-over-year decrease, largely influenced by a 3.4% decline in residential revenue, the company marked a positive turn with 0.1% year-over-year growth in business services revenue.

    This growth is noteworthy as it breaks a six-quarter streak of declining business services revenue.

    Conclusion

    Altice USA Inc. has showcased notable advancements across diverse business sectors in Q3 2023. Despite US stock market challenges, the company has attained key operational milestones, prioritizing top-notch network experiences and enhanced customer satisfaction.

    The recent financial performance, coupled with strategic initiatives, paints a positive picture for sustained broadband and cash flow growth.

  • Top Gainers Pre-Market as Big Tech Uplifts Markets

    Top Gainers Pre-Market as Big Tech Uplifts Markets

    It’s a good day for the markets today, with all the key indices in the green. This follows strong quarterly results by big tech companies. Facebook announced that revenues in the quarter grew by 11% an indication of the resilience of its business despite the COVID-19 pandemic.

    On its part, Alphabet beat analysts’ top and bottom-line estimates despite a drop in its ad revenues, when compared to a year ago. Apple reported that it had revenues of $59.7 billion in Q2, beating estimates by $7 billion. The biggest winner among the big tech stocks is Amazon. The company reported that it had doubled its income in Q2 when compared to a similar quarter in the last financial year. Amazon has benefited immensely from increased spending on its e-commerce platform during the pandemic. Besides big tech, there are a number of other companies that are doing well ahead of market opening.

    Pinterest Inc [NYSE:PINS]

    Pinterest Inc is one of the top gainers pre-market and is up by over 30%.  This comes after the company announced strong Q2 earnings that beat analyst expectations. The company reported that the number of users increased in Q2 by 39% to hit 416 million, against analyst expectations of 372.7 million. The company attributed the jump in user numbers to the stay-at-home orders that have forced people to spend more time on social media for family and business connections. In terms of revenues, the company reported that there was an increase of 4% to $272 million, while analysts were expecting revenues of $251.2 million.

    Under Armor Inc [NYSE:UA]

    Under Armor, Inc is one of the top gainers this morning and is up by over 10% pre-market. This comes after the company announced better than expected Q2 results. While the company reported a decline in revenues due to the COVID-19 pandemic, gross margins rose by 280 points to hit 49.3% when compared to a similar quarter last year. The company reported a 15% drop in administrative expenses. The company’s management stated the results were impressive when put in the context of the current pandemic.

    Altice USA Inc [NYSE:ATUS]

    Altice USA Inc is another top performer this morning and is up by over 5% after it reported strong Q2 results. The company reported that total revenues grew by 1% to hit $2. 47 billion. It also reported that net income attributable to shareholders increased to $111 million compared to a similar quarter in 2019.  The company further reported that free cash flows increased by 49.8% compared to a similar quarter in 2019.