Altice USA Inc. (ATUS) saw its shares soar 14.02% in pre-market trading on Thursday, fueled by the release of strong fourth-quarter and full-year 2024 financial results, combined with the unveiling of ambitious plans to upgrade its network infrastructure.

In its earnings report, Altice USA posted revenue of $2.24 billion for the fourth quarter, meeting analyst expectations. However, the company's earnings of -$0.12 per share missed the consensus estimate of $0.04, initially drawing a mixed reaction from investors.

Alongside the financial results, Altice USA announced a major network enhancement initiative to enable the delivery of multi-gigabit internet speeds across 65% of its service areas by 2028. This expansion includes introducing mid-split upgrades across portions of the company's hybrid-coax network, enabling download speeds of up to 2 Gbps downstream. Additionally, Altice USA will continue extending its fiber network, which delivers symmetrical speeds of up to 8 Gbps.

The company celebrated a significant milestone, having expanded its Optimum Fiber internet service to 3 million passings, representing nearly one-third of its footprint. This achievement underscores Altice USA's commitment to providing customers with reliable, cutting-edge connectivity solutions and meeting the growing demand for high-speed internet and digitalization across various sectors.