Altice USA Reports Second Quarter 2024 Results

Altice USA reported results for the second quarter ended June 30, 2024. Fiber customer growth continued in Q2 2024 with 40k fiber net additions, driven by migrations of existing customers and fiber gross additions. Penetration of the fiber network reached 15.3% at the end of Q2 2024, up from 9.4% at the end of Q2 2023. Optimum Mobile line net additions of 33k in Q2 2024, compared to 16k in Q2 2023. Mobile customer penetration of the broadband base was 5.8% at the end of Q2 2024, up from 3.8% at the end of Q2 2023. Broadband net losses were 51k in Q2 2024, compared to 37k in Q2 2023. Broadband subscriber net losses in the quarter were principally driven by seasonal university disconnects, continued competitive and macro pressures, and less activity in the low-income segment which is partially attributable to the impact of the Affordable Connectivity Program sunsetting.