Thu, Aug 1, 9:22 PM (88 days ago)
Altice USA's Form 10-Q for the quarter ended June 30, 2024, indicates a mixed financial performance. The company reported a decline in total revenue to $2.24 billion, down from $2.32 billion in the same period last year. This decrease was driven by lower broadband, video, and telephony revenues, despite growth in mobile service revenue. Operating income increased slightly to $501.6 million from $482.0 million, due to reduced programming and direct costs. However, net income dropped to $21.7 million from $86.1 million, impacted by higher interest expenses and a lower gain on investments. Adjusted EBITDA fell to $867.2 million from $921.7 million. Free Cash Flow improved to $22.6 million for the six months ended June 30, 2024, compared to a deficit of $200.7 million in the prior year, mainly due to reduced capital expenditures. The company faces uncertainties such as competition, regulatory changes, and economic conditions, which could impact future operations.