Welcome to our dedicated page for Altice USA news (Ticker: ATUS), a resource for investors and traders seeking the latest updates and insights on Altice USA stock.
Altice USA, Inc. (NYSE: ATUS) is a leading telecommunications company, committed to creating connections that matter. Operating under prominent brands like Optimum and Suddenlink, Altice USA provides high-speed broadband, digital television, and phone services to millions of customers across the United States.
Altice USA also offers mobile services through Altice Mobile and Altice WiFi, delivering seamless connectivity and advanced mobile solutions. The company's media assets include Cheddar, News 12, and i24News, providing around-the-clock news coverage and innovative content delivery.
With a focus on advanced advertising, a4 Advertising empowers businesses through targeted, data-driven advertising solutions. Altice Business caters to the diverse needs of businesses, offering comprehensive communication services and cutting-edge technology to drive growth and efficiency.
The company has achieved significant milestones, including the acquisition of Suddenlink in 2015 and Cablevision in 2016, expanding its reach to over 9.5 million homes and businesses. In 2018, Altice USA was spun off from Altice Europe to operate as an independent, publicly traded entity.
In recent developments, Altice USA's subsidiary, Lightpath, announced groundbreaking measures to enhance network security with the launch of LP DDoS Shield. This innovation aims to safeguard against sophisticated DDoS attacks using advanced detection and mitigation technologies, ensuring robust and reliable connectivity for Lightpath's customers.
Furthermore, Lightpath signed a definitive agreement to acquire United Fiber and Data's assets, expanding its high-fiber count network between New York City and Ashburn, VA. This acquisition enhances Lightpath's infrastructure, providing diverse, high-capacity connectivity solutions to enterprises and data centers in the region.
Altice USA's commitment to innovation, customer satisfaction, and community support remains unwavering, driving its mission to connect people to the things that matter most. Learn more about Altice USA's latest projects, financial performance, and future plans on their official website.
Lightpath, an all-fiber connectivity provider, has appointed Rachel Stack as Chief Financial Officer. With over 25 years of experience, Stack joins from Cologix where she served as CFO. Her responsibilities at Lightpath will include overseeing corporate finance, accounting, financial planning, treasury, tax, and internal audit. She will also manage corporate development, strategy, and capital markets planning.
Stack's previous roles include Senior Vice President of Corporate Strategy and Development at Zayo Group Holdings and investment banker at RBC Capital Markets. CEO Chris Morley praised Stack's industry experience and leadership qualities, stating she will help formulate and execute the company's strategic plan. Stack expressed excitement about joining Lightpath, highlighting the company's execution and investments towards becoming a top U.S. fiber infrastructure business.
Altice USA (NYSE: ATUS) reported Q2 2024 results, highlighting a revenue of $2.2 billion, a 3.6% decline YoY. Residential revenue fell by 4.4%, while business services saw a minor increase of 1.3%. ARPU declined by 1.1% to $135.95. The company saw a net income of $15.4 million, a significant drop from $78.3 million in Q2 2023. Adjusted EBITDA was $867.2 million, down 5.9% YoY.
Operational highlights include a 40k increase in fiber net additions and a 33k increase in mobile line net additions. Optimum's new low-cost internet TV package, Entertainment TV, launched in July 2024. Capital expenditures were $347.7 million, marking a 26.6% decrease YoY.
Despite network quality recognition, the company faces challenges with a net loss of 51k broadband subscribers and a 7.2x consolidated net leverage. The company aims to reach 3 million fiber passings by year-end and continues to focus on operational improvements and financial discipline.
Optimum has launched Entertainment TV, a new internet TV package exclusively available on Optimum Stream. Priced at $30/month, it offers 80+ top-rated channels including A&E, AMC, Comedy Central, and more. The service is expanding to nearly 1.5 million more homes across Optimum's West footprint, covering Arkansas, Arizona, Louisiana, North Carolina, and Texas.
Entertainment TV is designed to provide a low-cost, high-quality entertainment solution for customers seeking a relaxed viewing experience. It includes access to live TV, On Demand content, and Optimum's News 12 service. This launch is part of Optimum's strategy to enhance its TV offerings and provide customers with flexible, innovative packages tailored to their viewing habits.
Altice USA (NYSE: ATUS) will host a conference call on Thursday, August 1, 2024, at 8:30 a.m. ET to discuss its financial and operating results for Q2 2024, which ended on June 30, 2024. A press release with these results will be released earlier that day at 7:00 a.m. ET. The call will be led by Dennis Mathew, Chairman and CEO, and Marc Sirota, CFO. Dial-in numbers for the call are 877-404-9653 (US) and +1 201-689-8856 (International). Additionally, a live webcast of the call will be available on the company's investor relations website.
MiCTA, a national non-profit group purchasing organization, has named Lightpath an approved vendor for connectivity services, including Internet, Ethernet, Wavelengths, Dark Fiber, Private Networks, Voice, and managed services. This selection allows MiCTA members to purchase these services at a discount through a Master Service Agreement. Lightpath was chosen through a competitive screening process, noted for its quality service in education, government, and healthcare sectors. The agreement offers significant cost savings to MiCTA members and eliminates the need for individual RFPs, benefiting public sector and non-profit organizations.
Lightpath has signed a definitive agreement to acquire most of United Fiber and Data (UFD) assets. This acquisition includes a 323-route mile, high-fiber count network between New York City and Ashburn, VA, and a 79-route mile metro network in NYC and New Jersey. The deal, subject to regulatory approvals, is expected to close in Q3 2024. The acquisition will expand Lightpath's serviceable market in Manhattan by over 20%, connecting to 1,500 enterprise and data center destinations. The combined network will enhance high-capacity services and geographic diversity, benefiting Lightpath's enterprise, hyperscale, and wholesale customers. UFD customers will gain access to Lightpath's entire network and services.
Today, a4 Media, Altice USA's advanced advertising and data business, rebranded to Optimum Media to unify with the Optimum connectivity brand. The move aims to elevate brand awareness, accelerate partnership opportunities, and offer more value and innovation to clients. Optimum Media provides data-driven multiscreen advertising solutions across the U.S., including in the 21 states where Optimum serves approximately 4.7 million customers. The company specializes in audience reach through data-backed solutions, maximizing ROI for clients. News 12, a leading news source in the New York tri-state area, is also represented by Optimum Media.
Altice USA reports financial improvements in the first quarter of 2024, focusing on customer profitability, revenue growth, and operational enhancements. The company highlights positive trends in customer ARPU, revenue, and free cash flow. Despite a slight decrease in total revenue, Altice USA remains optimistic about sustainable long-term growth.
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