Altice USA residential video RGUs down 82,400 in 3Q 2022

Wednesday, November 2nd, 2022 
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NEW YORK — Altice USA (NYSE: ATUS) today reports results for the third quarter ended September 30, 2022.

Key Operational Highlights:

Fiber Broadband Primary Service Units (PSUs): Quarterly FTTH broadband net additions were +31k in Q3 2022, more than double the growth compared to Q3 2021 (+12k), driven by both higher fiber gross additions and increased migrations of existing customers. Total fiber broadband customers reached 135k as of the end of Q3 2022.

Total unique Residential customer relationships declined -2.8% YoY in Q3 2022. Unique Residential customer net losses in the quarter were -50k, compared to -25k in Q3 2021.

  • Residential Broadband PSUs: Quarterly total Residential broadband net losses were -43k in Q3 2022, compared to -13k broadband net losses in Q3 2021.
  • Residential Video PSUs: Quarterly video net losses were -82k in Q3 2022, compared to -67k video net losses in Q3 2021.

Residential revenue declined -4.4% YoY in Q3 2022 to $1.88 billion:

  • Residential revenue per customer relationship in Q3 2022 declined -1.9% YoY to $138.12, mostly due to the loss of higher ARPU video customers.

Business Services revenue of $366.6 million was down -16.8% YoY in Q3 2022 due to the early termination of a backhaul contract for air strands which resulted in the recognition of deferred revenue and termination fees over the amended term in the prior year period. Excluding air strand revenue in the prior period, Business Services revenue grew +0.1% YoY. SMB / Other revenue was down -21.6% YoY in Q3 2022, or down -0.1% YoY excluding air strand revenue. Lightpath revenue grew +0.5% YoY in Q3 2022.

News and Advertising revenue was down -16.1% YoY to $120.5 million in Q3 2022, or down -20.7% YoY excluding political revenue.

Optimum Mobile has approximately 236k mobile lines as of September 30, 2022 (+5k net additions in Q3 2022), reaching 5.5% penetration of the Company’s residential broadband customer base.

Residential KPIs – Unique customer relationships – Video (in thousands)

                 Q1-20    Q2-20    Q3-20    Q4-20    Q1-21    Q2-21    Q3-21    Q4-21     Q1-22    Q2-22    Q3-22 
               -------  -------  -------  -------   -------  -------  -------  -------  -------  -------  -------
Total          3,137.5  3,102.9  3,035.1  2,961.0   2,906.6  2,870.5  2,803.0  2,732.3  2,658.7  2,574.2  2,491.8
Net Additions   (41.7)   (34.6)   (67.8)   (74.0)    (54.5)   (36.1)   (67.5)   (70.7)   (73.6)   (84.5)   (82.4)

Links: Altice USA