Altice USA: cuts loss - revenues rise; shares up

(CercleFinance.com) - Altice USA reported a smaller quarterly loss on Friday, announcing encouraging signals about its broadband business, and spurring a 4% jump in its share price.


The New York-based telecoms group, owned by French billionaire Patrick Drahi, reported a net loss of 98 million dollars for its second quarter ended 30 June.

That compared with a loss of almost 480 million dollars a year ago.

Altice USA said the performance was helped by improved subscriber trends, accelerating revenue growth and a material improvement in free cash flow.

Indeed, revenue rose by 1.8% to 2.4 billion dollars.

The operator said it continues to see significant increases in data
usage on its broadband network, driven mostly by video streaming across multiple devices at home.

For the full year 2018, Altice USA said it expects revenue growth between 2.5% and 3%. Over the medium- to long-term, the group plans to expand its adjusted EBITDA and cash flow margins.

The shares were up 4.2 percent on the New York Stock Exchange after these comments.

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