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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.