Altice USA Inc. (NYSE:ATUS) has been on an upward movement since the beginning of the month, and in the last session, the stock lost 1.99% to close the day at $21.17 following the announcement of the Q4 and FY2018.
The company posted 4% revenue growth for the Q4 2018, which estimated to be $2.45 billion that was driven primarily by residential revenue growth, advertising revenues as well as business services revenue growth. Altice USA reported 2.8% year-over-year revenue growth for FY2018
2018 financial milestones
The company had a great financial performance for FY2018 attaining 2018 guidance as well as meeting significant operational milestones. Chief Executive Officer of Altice USA, Dexter Goei indicated that throughout 2018 the company improved its subscriber trends as well as accelerated growth in revenue and they attained the highest margins ever. The company improved its year-over-year residential customer relations by over 7,000 in the Q4 with video trends growing in Suddenlink and Optimum as the company continues to grow its customer broadband base.
A robust Enterprise and Carrier Segment boosted growth in business services, and the company reported 5.3% revenue for the Q4. Growth in the advertising segment was supported by multiscreen advertising solutions both locally and nationally driven by NY Interconnect. The company has so far attained more than 300k Altice One customers following the successful launch of Altice One Operating System 2.0.
The CEO indicated that going into 2019 the company will continue their journey of delivering innovations that will offer breakthrough connectivity services as well as advanced business solutions to its customers. The company began 2019 with a strong balance sheet following the recent financing that reduced cash interest costs and extended maturity of their facility. This year the company expects to post year-over-year revenue growth of between 2.5% and 3.0%. They will also increase their investment for the on-going rollout of their Altice One Fiber deployment as well as the new mobile network with capex for approximately $1.3b to $1.4b.