Altice USA Reports $8.95 Billion Revenue for Fiscal Year 2024, Net Loss of $102.9 Million

Altice USA, Inc. reported a total revenue of $8.95 billion for the fiscal year ending December 31, 2024, a decrease of approximately 3% from $9.24 billion in 2023. The decline in revenue was primarily driven by reductions in broadband, video, and telephony services, which collectively saw a drop of $336.6 million. Adjusted EBITDA for the year was $3.41 billion, down from $3.61 billion in the previous year, reflecting a decrease in profitability as a percentage of revenue from 39.1% to 38.1%. The company recorded a net loss attributable to stockholders of $102.9 million, a significant decline from a net income of $53.2 million in 2023.

In terms of operational metrics, Altice USA served approximately 4.55 million total customer relationships as of December 31, 2024, a decrease from 4.74 million in 2023. The decline was particularly notable in video and telephony services, which saw customer counts drop by 292,300 and 246,100, respectively. However, mobile service revenue increased by 52% to $117.1 million, attributed to a rise in mobile lines. The company’s footprint expanded to approximately 9.83 million total passings, up from 9.63 million in the previous year, with a notable increase in fiber-to-the-home (FTTH) connections.

Strategically, Altice USA has focused on enhancing its network capabilities, particularly through its ongoing FTTH build, which now passes approximately 3 million homes. The company has also launched new video offerings aimed at modernizing its service portfolio. In 2024, Altice USA introduced three new video products—Entertainment TV, Extra TV, and Everything TV—designed to cater to evolving consumer preferences. Additionally, the acquisition of United Fiber and Data by its subsidiary Lightpath is expected to bolster its enterprise service capabilities.

The company’s financial performance was impacted by rising programming costs and competitive pressures in the broadband and video markets. Altice USA's programming and other direct costs decreased to $2.90 billion from $3.03 billion, primarily due to a reduction in video customers, although contractual rate increases partially offset this decline. Looking ahead, Altice USA anticipates continued challenges in negotiating favorable programming agreements and managing operational costs, particularly in light of the competitive landscape and economic conditions. The company remains focused on leveraging its network investments to drive future growth and improve customer retention.