Altice USA, like Dish Network, has posted somewhat reassuring video subscriber numbers after last week’s devastation ignited by AT&T’s massive subscriber losses.
During the second quarter, Altice USA lost just 21,000 video subscribers, improving on the 24,000 it lost in the same quarter last year. The company said its total unique residential customer relationships grew 0.5% and said its Altice One platform supported better than normal seasonality at Suddenlink.
Altice USA has reached 429,000 unique Altice One customers as of the second quarter of 2019 (or approximately 13% of total video customers, up from 4% at the end of the second quarter of 2018).
In May the company released the Altice One Operating System (OS) 3.0 geared toward improving content discovery for its Optimum and Suddenlink video subscribers. The update introduced a new sports hub, a refreshed home screen and an optional Voice Guidance feature embedded throughout the user interface.
“Once again, Altice One and our network investments drove improved video and data customer performance, leading to stronger customer relationships and accelerated growth in revenue while still enhancing profitability. We completed the Cheddar acquisition to fuel growth in news and advertising, and our advanced advertising platform continues to deliver positive results,” said Altice USA CEO Dexter Goei in a statement.
Altice USA’s second-quarter advertising revenue grew 2.8% year over year, which the company largely attributed to its advanced advertising platform a4.
Along with 6.4% growth in business services revenue, Altice USA’s consolidated revenue rose 3.7% year over year to $2.45 billion. The quarterly results led the company to upgrade its projected revenue targets for full year 2019. Adjusted EBITDA grew 7.3% year over year to $1.079 billion.
The company is expecting revenue growth of 3% to 3.5% year over year (up from prior guidance of 2.5% to 3%).