Altice USA Q3 revenue down 7% to $2.39B; net income falls to $85M from $267M

Optimum Communications, Inc.

2022-FY EPS reported $0.86 revenue$7,278,463,000

Q3 revenue $2.39B (-7.0% YoY); net income $85M ($0.19 diluted EPS) vs $267M ($0.58) in Q3 2021.
Adjusted EBITDA $954.4M (-18.1% YoY); margin 39.9%; cash capex $493.6M (20.6% of revenue).
Residential broadband net losses 43k; customer relationships down 2.8% YoY; video net losses 82k.
Added 321k FTTH passings in Q3 (1.9M total); fiber broadband net additions +31k, reaching 135k customers.
Dennis Mathew appointed CEO effective Oct 3, 2022; Dexter Goei named Executive Chairman.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Optimum Communications, Inc. reported the third quarter ended September 30, 2022 results: revenue $2.39 billion, net income $85.0 million, EPS $0.19/share.

Period: the third quarter ended September 30, 2022
Revenue: $2.39 billion
Net income: $85.0 million
EPS: $0.19/share
Result: reported results

Exact text from the filing

• Total Revenue declined -7.0% YoY in Q3 2022 to $2.39 billion (-4.3% excluding air strand revenue (1) ), including Residential revenue decline of -4.4% YoY, Business Services revenue decline of -16.8% YoY (+0.1% excluding air strand revenue (1) ) and News & Advertising revenue decline of -16.1% YoY. • Net income attributable to stockholders was $85.0 million in Q3 2022 ($0.19/share on a diluted basis) compared to net income of $266.9 million in Q3 2021 ($0.58/share on a diluted basis).

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Source: SEC EDGAR

accession 0001628280-22-027839

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