Stock Story -
Telecommunications and cable services provider Altice USA (NYSE:ATUS) will be reporting results tomorrow before market open. Here's what investors should know.
Altice met analysts' revenue expectations last quarter, reporting revenues of $2.25 billion, down 1.9% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Altice a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Altice's revenue to decline 2.9% year on year to $2.26 billion, improving from the 5.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Altice has missed Wall Street's revenue estimates three times over the last two years.
Looking at Altice's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Charter posted flat year-on-year revenue, meeting analysts' expectations, and Comcast (NASDAQ:CMCSA) reported a revenue decline of 2.7%, falling short of estimates by 1.1%. Charter traded up 19.8% following the results while Comcast was down 3.6%.
Read the full analysis of Charter's and Comcast's results on StockStory.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.8% on average over the last month. Altice is up 4% during the same time and is heading into earnings with an average analyst price target of $2.9 (compared to the current share price of $2.1).
![What To Expect From Altice's (ATUS) Q2 Earnings](https://d68-invdn-com.investing.com/content/pice5d5d34253876fce7bfa7d8469991228.jpeg)