Shares of Altice USA Inc. (NYSE: ATUS) plummeted more than 13% in pre-market trading on Monday, following the company's disappointing third-quarter earnings report released on Friday after the market close.

The telecommunications and media services provider reported a quarterly adjusted loss of 9 cents per share for the quarter ended September 30, missing analysts' estimates of 4 cents per share. Revenue fell 3.9% year-over-year to $2.23 billion, slightly missing expectations of $2.24 billion.

The company's financial performance was impacted by a decline in residential revenue, which fell 5.6% year-over-year, driven by ongoing challenges in the video segment and subscriber losses in the broadband business. Altice USA reported broadband subscriber net losses of 50,000 in the quarter, citing competitive pressure and the sunset of the Affordable Connectivity Program (ACP).