Altice USA loses 25K pay TV subscribers in Q4, grows revenue 2.6%

Altice USA flag
(Altice USA)

Altice USA reported a loss of 25,000 pay TV users across its two cable systems in the fourth quarter, virtually flat with the 24,000 lost in the fourth quarter of 2016.

The company, which will host its investor conference Wednesday, reported a 2.6% increase in fourth-quarter revenue to $2.37 billion.

Like most cable companies, Altice USA is seeing growth driven by residential broadband and business services. The company added 25,000 broadband customers in the fourth quarter versus 15,000 in the comparable year-ago time period. Revenue from residential broadband services increased 13% year over year to $676.5 million.

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Business services revenue grew around 5% in the quarter to $330 million and increased 5.5% for the full 2017 calendar year. 

RELATED: Altice One launches across Optimum footprint with integrated Netflix

Altice USA, which is currently in the process of being spun off from its European part, said 86% of its customers now have access to internet speeds of 400 Mbps or higher and 29% have access to gigabit speeds.

Pay TV revenue, meanwhile, declined 2.7% to $1.029 billion.

It was an active fourth quarter for Altice USA, which not only announced the spinoff but also debuted its Altice One CPE package.