Altice USA (ATUS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Altice USA, Inc. reported a revenue of $2.24 billion for the quarter ended June 2024, reflecting a year-over-year decline of 3.6% and an EPS of $0.03, down from $0.17 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $2.25 billion by 0.47%, and the EPS was 62.50% below the consensus estimate of $0.08 [1] Revenue Performance - Residential revenue was reported at $1.75 billion, which is 4.5% lower than the previous year and below the average estimate of $1.77 billion [7] - Business services and wholesale revenue reached $369.29 million, exceeding the average estimate of $360.74 million, marking a year-over-year increase of 1.3% [8] - News and Advertising revenue was $105.28 million, significantly lower than the average estimate of $119.85 million, representing a decline of 7.2% year-over-year [9] - Mobile revenue within residential services was $27.48 million, surpassing the estimate of $27.28 million, and showing a substantial increase of 51.4% compared to the previous year [10] - Broadband revenue was reported at $914.99 million, below the average estimate of $921.73 million, reflecting a year-over-year decrease of 5.3% [11] - Video revenue was $739.45 million, also below the estimate of $747.97 million, indicating a decline of 4.6% year-over-year [12] - Telephony revenue was $71.70 million, exceeding the estimate of $68.33 million, but showing a decrease of 5.7% compared to the previous year [13] - Other revenue sources amounted to $12.57 million, surpassing the average estimate of $11.63 million, with a year-over-year increase of 15.5% [14] Customer Metrics - Total homes passed remained at 9.75 million, aligning with the average estimate from three analysts [3] - Residential unique customer relationships were reported at 4.27 million, slightly below the average estimate of 4.31 million [4] - SMB unique customer relationships reached 379.7 thousand, marginally above the average estimate of 379.66 thousand [5] - Total unique customer relationships were 4.65 million, which is lower than the average estimate of 4.69 million [6] Stock Performance - Over the past month, shares of Altice USA have returned +1.5%, outperforming the Zacks S&P 500 composite's +1.1% change [14] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [14]