Altice USA (ATUS) shares dropped by 3.8% in pre-market trading on Tuesday after the cable operator reported second-quarter earnings that fell short of Wall Street expectations. The company reported adjusted earnings per share (EPS) of $0.03, missing the analyst estimate of $0.06. Revenue for the quarter was $2.24 billion, slightly below the consensus estimate of $2.25 billion.
Altice USA’s revenue also declined compared to the same period last year, indicating a challenging quarter for the company. The company did not provide specific reasons for the earnings miss in its earnings release, leaving investors to speculate.
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The lack of explanation and financial guidance for the upcoming quarter or fiscal year contributed to investor uncertainty. The absence of management quotes in the press release further fueled concerns. Investors will be closely watching for Altice USA’s plans to address these challenges and navigate the evolving cable and telecommunications market.