Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Altice Stock Plunged Today

TheMotleyFool

0 0

Shares of Altice (NYSE: ATUS) have plunged today, down by 20% as of 11:50 a.m. EST, after the company reported third-quarter earnings. The cable operator missed on both top and bottom lines and cut its guidance for the year.

Revneue in the third quarter came in at $2.44 billion, shy of the $2.48 billion that analysts were expecting. That translated into net income of $77 million, or $0.12 per share, while the consensus estimate had called for $0.15 per share in profits. Altice lost 32,000 video customers during the quarter as cord-cutting continues to hurt traditional cable operators.

Image source: Getty Images.

Source Fool.com

Like: 0

ATUS

Share