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Sep 30, 2025
Altice USA Q3 2025 Earnings Report
Altice USA reported its third quarter 2025 results, delivering record gross margin performance and improved operational efficiencies, while facing intense competition and softer broadband subscriber trends.
Key Takeaways
Altice USA reported a total revenue of $2.11 billion for Q3 2025, a 5.4% year-over-year decrease. The company experienced a significant net loss attributable to stockholders of ($1,625.9) million, primarily due to a $1.6 billion non-cash impairment charge. Despite these challenges, Altice USA achieved a record gross margin of 69.7% and reaffirmed its full-year Adjusted EBITDA outlook, driven by operational efficiencies and growth in fiber and mobile customers.
Total revenue for Q3 2025 was $2.11 billion, a 5.4% decrease year-over-year.
Net loss attributable to stockholders was ($1,625.9) million, including a $1.6 billion non-cash impairment charge.
Adjusted EBITDA was $830.7 million with a margin of 39.4%, moderating year-over-year declines.
The company reached over 700 thousand fiber customers and 584 thousand mobile lines, demonstrating growth in these segments.
Revenue by Segment
Forward Guidance
Altice USA reiterated its full-year 2025 Adjusted EBITDA outlook of approximately $3.4 billion and updated its cash capital expenditures projection to approximately $1.3 billion. The company plans to focus on strengthening broadband performance and improving revenue trajectory in a competitive landscape.
Positive Outlook
- Reaffirmed full-year Adjusted EBITDA outlook of approximately $3.4 billion for FY 2025.
- Targeting 175k total new passings in FY 2025, primarily as fiber new builds.
- First market expected to launch 2-Gig speeds on HFC network in November 2025.
- Lightpath continues to expand in the hyperscaler community with additional contracts secured.
- Ongoing operating improvements and efficiencies are expected to support Q4 2025 topline opportunities.
Challenges Ahead
- Updated projection to approximately $1.3 billion cash capital expenditures in FY 2025, driven by higher cash capital at Lightpath and timing of capital spend.
- Facing intense competition and a sustained low-growth environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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