Altice USA Sees 7% More Broadband Revenue, But Pay TV Slips 2%

Altice USA posted steady broadband quarterly revenue growth and lower pay TV revenues for its fourth-quarter period.

Revenue grew 4% to $2.5 billion, while net income was $213.1 million. Net income was $2.2 billion in the fourth quarter of 2017 due to tax benefits from a new tax law. Operating income more than doubled to $528.7 million from $217.1 million.

Pay TV net subscribers losses were 15,000 versus a net loss of 25,000 in the fourth quarter of 2017.

Altice’s average revenue per residence grew 2% to $142 per month. Altice had 3.3 million pay TV subscribers at year’s end, with broadband subscribers at 4.1 million.

Pay TV revenues slipped 2% to $1.03 billion and broadband business was 9% higher to $743.7 million. Business services gained 5.3% to $348.1 million, while phone business was 4% lower to $162 million.

Advertising revenue, boosted by a strong political advertising season, rose 33% to $162 million.

For the year, Altice’s cable advertising revenue climbed 2.8% to $482.6 million. The company pointed to strong results from its cable advertising New York Interconnect unit, as well as gains from local and national advertising efforts from a4, Altice’s data and analytics unit.

The Thursday close of Altice USA was down 1%, at $21.03.

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