Altice USA Inc. (NYSE:ATUS) shares plunged over 5% in after-hours trading on Friday after the company reported disappointing third-quarter earnings results that missed analyst estimates. The telecommunications and cable TV provider reported a quarterly loss of $0.09 per share, significantly missing the consensus estimate of $0.04 earnings per share by a wide margin of 325%.
Revenue for the quarter came in at $2.23 billion, narrowly missing the expected $2.24 billion by 0.37%. Both earnings and revenue declined compared to the same period last year, with EPS down 160% from $0.15 and revenue down 3.85% from $2.32 billion.
The disappointing earnings results weighed heavily on Altice USA's stock in extended trading, as investors reacted negatively to the missed expectations. The company's shares have been under pressure in recent months, and the latest earnings miss could further dent investor confidence in the company's growth prospects.
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