Following these transactions, Drahi's holdings in Altice USA (NYSE:ATUS) were adjusted, reflecting his continued involvement with the company. These sales were linked to the expiration of certain capped call transactions, as noted in the filing. Despite recent challenges, including a revenue decline of 3.05% in the last twelve months, InvestingPro data shows the company maintains a strong gross profit margin of 67.63%. Subscribers can access 8 additional ProTips and comprehensive financial analysis through the Pro Research Report, available exclusively on InvestingPro. Despite recent challenges, including a revenue decline of 3.05% in the last twelve months, InvestingPro data shows the company maintains a strong gross profit margin of 67.63%. Subscribers can access 8 additional ProTips and comprehensive financial analysis through the Pro Research Report, available exclusively on InvestingPro.
Following these transactions, Drahi's holdings in Altice USA were adjusted, reflecting his continued involvement with the company. These sales were linked to the expiration of certain capped call transactions, as noted in the filing.
In other recent news, Altice USA has been experiencing significant changes and developments. The company announced the transition of Colleen Schmidt, Executive Vice President, Human Resources, to a Senior Advisor role to the CEO effective December 31, 2024, as part of its strategic adjustments in leadership. This change comes with a $400,000 severance package and other benefits for Schmidt, contingent upon certain conditions.
In financial news, Citi analysts have maintained their Buy rating on Altice USA and increased the price target to $3.00, citing opportunities for cost reduction and positive price actions in 2025. TD (TSX:TD) Cowen also retained a Buy rating on the company's stock while reducing its price target to $3.50 following mixed results in the third quarter of 2024.
Altice USA reported Q3 revenue of $2.2 billion and adjusted EBITDA of $862 million in its earnings call. The company added 47,000 new fiber customers and 36,000 new mobile lines, reaching totals of 482,000 and 420,000 respectively. Additionally, Altice USA aims to grow its fiber and mobile customer bases to over 1 million each by 2026 and 2027 respectively. These are the recent developments in Altice USA's operations and financial standing.
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