Altice USA: first-quarter net loss widens

(CercleFinance.com) - Altice USA, an affiliate of European telecoms group Altice, reported a widening first-quarter loss on Thursday as the U.
S. cable operator stepped up its investments.

Altice USA, which remains on track for its spin-off from parent Altice N.V., made a net loss of 128.9 million dollars in the three months ended March 31.

That compares with a loss of 76.2 million dollars in the prior-year period.

Adjusted EBITDA grew 4% to 981 million dollars in the past quarter, with revenue up 1.2% at 2.33 billion dollars.

The carrier said net customer additions were only 8,000 in the first quarter.

For the full year 2018, Altice USA expects revenue growth of between 2.5 and 3%.

Parent company Altice N.V. will release its first-quarter results separately on Thursday May 17.

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