Showing posts with label Financials. Show all posts
Showing posts with label Financials. Show all posts

Thursday, February 15, 2018

Arista posts Q4 revenue of $468 million, up 43% yoy

Arista reported Q4 2017 revenue of $467.9 million, an increase of 6.9% compared to the third quarter of 2017, and an increase of 42.7% from the fourth quarter of 2016.
GAAP gross margin of 65.7%. Non-GAAP net income of $137.3 million, or $1.71 per diluted share, compared to non-GAAP net income of $77.5 million, or $1.04 per diluted share, in the fourth quarter of 2016.

Full-year 2017 revenue amounted to $1.6 billion, an increase of 45.8% compared to fiscal year 2016.

"2017 represents a market tipping point with Arista’s disruptive software-driven architecture gaining mainstream acceptance as we surpassed 15 million cumulative ports of cloud networking,” stated Jayshree Ullal, Arista President and CEO.

Tuesday, February 13, 2018

Twilio posts sales of $115 million, up 41% yoy

Twilio, which enables developers to embed messaging, voice, and video capabilities directly into their software applications, reported Q4 2007 revenue of $115.2 million, up 41% from the fourth quarter of 2016 and 15% sequentially from the third quarter of 2017.

There was a GAAP loss from operations of $20.2 million for the fourth quarter of 2017, compared with GAAP loss from operations of $12.8 million for the fourth quarter of 2016. Non-GAAP loss from operations was $3.9 million for the fourth quarter of 2017, compared with non-GAAP profit from operations of $0.1 million for the fourth quarter of 2016.

Twilio was serving 48,979 active customer accounts as of December 31, 2017, compared to 36,606 as of December 31, 2016.

“We are kicking off our tenth year as a company with fabulous momentum. I’m very proud of the team for our fourth quarter performance, but my excitement lies in the foundations we’ve laid for the next ten years of Twilio,” said Jeff Lawson, Twilio’s Co-Founder and Chief Executive Officer. “We are poised for a stellar year ahead, built on our relentless focus on customer success, quality, and software-fueled innovation.”

Thursday, February 8, 2018

CoreSite's data center business continues to grow, up 14% in Q4

CoreSite Realty reported Q4 2017 revenue of $125.9 million, representing a 14.0% increase year over year. Reported fourth-quarter net income per diluted share of $0.44, consistent with the prior-year level.

During Q4, CoreSite executed 128 new and expansion data center leases comprising 41,521 net rentable square feet (NRSF), representing $7.2 million of annualized GAAP rent at an average rate of $174 per square foot. The company also commenced 52,221 NRSF of new and expansion leases representing $8.2 million of annualized GAAP rent at an average rate of $157 per square foot.

“We finished out the year with solid results, highlighted by fourth-quarter revenue, adjusted EBITDA and FFO growth, before the one-time Preferred Stock redemption charge, of 14%, 13%, and 11%, year over year, respectively,” said Paul Szurek, CoreSite’s Chief Executive Officer. “Organic growth was driven primarily by the continued expansion of existing customers across the portfolio and also by new logo growth as we continue to attract valuable deployments to our facilities, driving interactions and interconnections among our customers. When looking at 2017 in its entirety, we executed well on our strategic priorities and took important steps to grow our differentiated scalable and flexible campus strategy in key markets, including Santa Clara, Northern Virginia, Los Angeles, and most recently, Chicago.”

Tuesday, February 6, 2018

MACOM's quarterly revenue dips to $131 million

MACOM reported revenue of $130.9 million for its fiscal first quarter ended December 29, 2017, a decrease of 13.7%, compared to $151.8 million in the previous year fiscal first quarter and a decrease of 21.3% compared to $166.4 million in the prior fiscal quarter.

The company cited difficulties in China.

The was a GAAP net loss from continuing operations was $17.0 million, or $0.49 loss per diluted share, compared to net loss from continuing operations of $2.2 million, or $0.04 loss per diluted share, in the previous year fiscal first quarter and net loss from continuing operations of $1,000, or $0.21 loss per diluted share, in the prior fiscal quarter.

Non-GAAP adjusted gross margin was 53.7%, compared to 57.2% in the previous year fiscal first quarter and 58.1% in the prior fiscal quarter;

“As expected, the first quarter was challenging across the board, as we dealt with the full impact of the geopolitical downturn in China,” remarked John Croteau, President and CEO of MACOM. "While it is still too early to call the exact slope of the recovery, we continue to believe that December was the bottom of the cycle for MACOM, and we expect demand will progressively strengthen through the remainder of the year.

“We expect 2018 will be a transitional year in our served markets, as the technology landscape shifts in anticipation of the next major wave of infrastructure investments in Cloud Data Centers and 5G Telecom. Although these shifts will likely moderate the pace of recovery, we believe they will ultimately lead to multiple breakout opportunities that play directly to our strengths."

Monday, February 5, 2018

Oclaro posts quarterly sales of $139 million

Oclaro reported revenues of $139.3 million for its second quarter of fiscal 2018, compared with revenues of $155.6 million in the first quarter of fiscal 2018, and revenues of $153.9 million in the second quarter of fiscal 2017. GAAP gross margin was 37.2% for the second quarter of fiscal 2018, down from 39.5% in the second quarter of fiscal 2017. Non-GAAP operating income was $24.5 million for the second quarter of fiscal 2018. This compares with non-GAAP operating income of $34.6 million in the first quarter of fiscal 2018, and non-GAAP operating income of $36.2 million in the second quarter of fiscal 2017.

"The December quarter results were in line with our expectations. While revenue declined from the prior quarter, the team again delivered strong gross margin, profitability and cash flow," said Greg Dougherty, Chief Executive Officer, Oclaro. "While we project March quarter revenue to be down sequentially, we anticipate another quarter of solid operating income. As the headwinds facing the industry begin to subside, and we ramp new products, our revenue is expected to resume growth in the June quarter."

Thursday, February 1, 2018

ZTE reports 2017 sales of RMB 108.82 billion, up 7.49%

ZTE Corporation reported 2017 operating revenue of RMB 108.82 billion, 7.49% higher than a year earlier. Net profit attributable to holders of ordinary shares of the listed company in the whole year 2017 was RMB 4.55 billion, an increase of 293%.

Net cash flow from operating activities for 2017 was approximately RMB 6.78 billion, about 28.88% year-on-year growth. Excluding the impact of penalty payments imposed by U.S government authorities, the company's net cash flow from operating activities was RMB 12.44 billion, representing an increase of approximately 136.58% over the previous year.

In reflecting on 2017, ZTE said it successfully focused on the market of mainstream carriers and high-value customers, and persisted in a proactive yet prudent business strategy while exploring new opportunities for growth.

Nokia reports stronger financials and outlook

Nokia reported Q4 2017 sales of EUR 6.7 billion, flat compared with the same period in 2016, however, on a constant currency basis, non-IFRS net sales increased 5% and reported net sales increased 6%, with 2% growth in Nokia's Networks business and 80% growth in Nokia Technologies.

Non-IFRS diluted EPS in Q4 2017 amounted to EUR 0.13, compared to EUR 0.12 in Q4 2016/

The improved performance of Nokia's Networks business was driven by IP Networks and Applications and by Ultra Broadband Networks. The large year-on-year variations in foreign exchange rates had a negative impact on reported net sales, with net sales down 4% compared to the year-ago period. Strong operational discipline produced a solid Q4 2017 gross margin of 37.6%, and an operating margin of 11.1%.

Nokia Technologies' sales increased 79% year-on-year primarily due to new license agreements. Approximately EUR 210 million of the net sales in Q4 2017 (zero in Q4 2016) were non-recurring in nature and related to catch-up net sales, of which approximately EUR 80 million related to 2017 and EUR 130 million related to the prior years.

Looking ahead, Nokia is targeting stronger profitibilit with non-IFRS diluted EPS rising to EUR 0.23 to 0.27 in full year 2018 and EUR 0.37 to 0.42 in full year 2020.

Rajeev Suri, Nokia's CEO, issued the following statement: "I am pleased that Nokia ended 2017 with a strong fourth quarter. We saw constant currency growth in three of our five Networks business groups as well as very strong growth in Nokia Technologies. Group profitability increased in both the quarter and the full year, and gross margin remained resilient in Networks despite the dilutive impact of robust competition in China.

"This performance reflects the progress we have made since Q3 with our mobile product portfolio, and positions us well for the upcoming transition to 5G. Our recent 4G/LTE software release was the highest quality in our history; our AirScale 5G-ready base stations are shipping in volume and delivering excellent results in the field; and we are making good progress in the execution of product migrations for key customers."


Wednesday, January 31, 2018

Microsoft posts solid growth in cloud - Azure up 98% yoy

Microsoft reported revenue of $28.9 billion for the quarter ended 31-Dec-2017, up 12% over the same period a year earlier. Operating income was $8.7 billion and increased 10%. The company took a $13.8 billion GAAP charge in the quarter related to the tax reform.

“This quarter’s results speak to the differentiated value we are delivering to customers across our productivity solutions and as the hybrid cloud provider of choice,” said Satya Nadella, chief executive officer of Microsoft. “Our investments in IoT, data, and AI services across cloud and the edge position us to further accelerate growth.”

Revenue in Productivity and Business Processes was $9.0 billion and increased 25% (up 24% in constant currency), with the following business highlights:

  • Office commercial products and cloud services revenue increased 10% (up 10% in constant currency) driven by Office 365 commercial revenue growth of 41% (up 41% in constant currency)
  • Office consumer products and cloud services revenue increased 12% (up 11% in constant currency) and Office 365 consumer subscribers increased to 29.2 million
  • Dynamics products and cloud services revenue increased 10% (up 9% in constant currency) driven by Dynamics 365 revenue growth of 67% (up 68% in constant currency)
  • LinkedIn contributed revenue of $1.3 billion during the quarter with sessions growth of over 20% for the fifth consecutive quarter


Revenue in Intelligent Cloud was $7.8 billion and increased 15% (up 15% in constant currency), with the following business highlights:

  • Server products and cloud services revenue increased 18% (up 18% in constant currency) driven by Azure revenue growth of 98% (up 98% in constant currency)
  • Enterprise Services revenue increased 5% (up 3% in constant currency) driven by Premier Support Services

Revenue in More Personal Computing was $12.2 billion and increased 2% (up 2% in constant currency), with the following business highlights:

  • Windows OEM revenue increased 4% (up 4% in constant currency) driven by OEM Pro revenue growth of 11%
  • Windows commercial products and cloud services revenue decreased 4% (down 5% in constant currency) due to the impact of a prior year large deal
  • Gaming revenue increased 8% (up 8% in constant currency) driven by Xbox hardware revenue growth from the Xbox One X launch
  • Search advertising revenue excluding traffic acquisition costs increased 15% (up 15% in constant currency) driven by higher revenue per search and search volume

AT&T posts big Q4 profit from tax windfall

AT&T posted Q4 revenue of $41.7 billion, down slightly from $41.8 billion a year earlier primarily due to declines in legacy wireline services, wireless service revenues and domestic video, which were mostly offset by growth in wireless equipment and International. Fourth-quarter net income attributable to AT&T was $19.0 billion, or $3.08 per diluted share, and reflects the impact of the Tax Cuts and Jobs Act, compared to $2.4 billion, or $0.39 per diluted share, in the year-ago quarter.

AT&T's full-year 2017 revenues amounted to $160.5 billion versus $163.8 billion in 2016.

The company also confirmed plans to add $1 billion to its CAPEX budget in 2018 as a result of the tax reform legislation.

“The impact of tax reform and regulatory rationalization will be substantial and positive for the U.S. economy and AT&T,” said Randall Stephenson, AT&T Chairman and CEO. “Our FirstNet win and the opt-in by 100 percent of all states and territories will enable us to put the industry’s most robust spectrum assets to work in building a best-in-class nationwide network for public safety and first responders. On the Time Warner front, we look forward to presenting our case in court and closing the deal.”

Highlights for Q4 2017


  • 4.1 million total wireless net adds for the fourth quarter, including 2.7 million in U.S., driven by connected devices, postpaid phones and prepaid, and 1.3 million in Mexico.  
  • 300,000 total video net adds: 161,000 in U.S. and 139,000 in Latin America
  • U.S. wireless results:
  • 329,000 postpaid phone net adds
  • Added nearly 700,000 branded smartphones to base
  • Best-ever fourth-quarter postpaid phone churn of 0.89%
  • 95,000 IP broadband net adds; 19,000 total broadband net adds; more than 7 million customer locations passed with fiber
  • 161,000 total video net adds; 368,000 DIRECTV NOW net adds to reach nearly 1.2 million DIRECTV NOW subscribers
  • International revenues were up 16.0% with strong growth in Mexico wireless and DIRECTV Latin America


Ericsson's Q4 sales dropped 12% yoy to

Ericsson's reported sales for Q4 2017 decreased by -12% to SEK 57.2 billion (US$7.26 billion). The figure was down 7% when adjusting for constant currency. Gross margin was 21.8%. Operating income was SEK -19.8 billion (-US$2.51 billion).

Ericsson attributed the weaker performance to lower LTE sales in China.

"During a challenging 2017, we have developed and started to execute on a focused strategy, strengthening our R&D while at the same time introducing robust measures to reduce cost and commercial risk. We have now laid the foundation for achieving our financial targets. The fourth quarter was in line with our overall expectation, with gradual improving performance in Networks and continued significant losses in Digital Services. The result is however far below our long-term ambition," stated Börje Ekholm, President and CEO of Ericsson.

In its quarterly report, Ericsson noted that it has completed or exited 23 out of 42 under-performing managed service contracts, which should improve profitability.

In terms of market opportunity, Ericsson expects the Radio Access Network (RAN) equipment market to decline by -2% for full-year 2018. Geographically, Ericsson forecasts the Chinese market to continue to decline due to reduced LTE investments, while it sees positive momentum in North America.

Ericsson also announced the appointment of Åsa Tamsons as Senior Vice President and head of Business Area Emerging Business and member of Ericsson’s Executive Team. She joins Ericsson from McKinsey & Company where she has held the position as partner in McKinsey’s Stockholm office.


In addition, Ulf Ewaldsson, currently head of Business Area Digital Services, and Elaine Weidman, currently head of Group Function Sustainability & Public Affairs, will step down. Ewalsson will take on a role as advisor to the CEO, while Weidman-Grunewald has decided to leave the company to pursue other opportunities.

Tuesday, January 30, 2018

Juniper's Q4 sales drop 11% yoy as the company cites deployment delays from cloud customers

Juniper Networks reported net revenues of $1,239.5 million for Q4 2017, a decrease of 11% year-over-year and 1% sequentially, and also announced lowered financial expectations for Q1 2018 due to ongoing deployment delays as large cloud customers continue their architectural transition.  Juniper said it remains confident in its competitive position and strong relationship with these strategic customers.

On the earnings conference call, company execs said the weakness is primarily being driven by the shift to a scale out from scale up architecture, most notably at several of its largest cloud customers.

For Q4 2017, GAAP operating margin was 16.4%, a decrease from 20.7% in the fourth quarter of 2016, and a decrease from 18.4% in the third quarter of 2017. Non-GAAP operating margin was 22.7%, a decrease from 26.5% in the fourth quarter of 2016, and a decrease from 23.5% in the third quarter of 2017. GAAP net loss was $148.1 million, a decrease of 178% year-over-year and 189% sequentially, resulting in diluted loss per share of $0.40. GAAP net loss was primarily due to the Tax Cuts and Jobs Act, which resulted in an estimated $289.5 million of tax expense.

For full year 2017, Juniper's net revenues were $5,027.2 million, an increase of 1% year-over-year. GAAP operating margin was 16.9%, a decrease from 17.8% in fiscal year 2016. Non-GAAP net income was $809.0 million, flat year-over-year, resulting in diluted earnings per share of $2.11, an increase of 1% year-over-year.

“We continue to lead the way in helping our customers build more automated, cost efficient, scalable networks," said Rami Rahim, chief executive officer, Juniper Networks. "We believe strongly that we have the right product portfolio in place to win in this dynamic market.”

A10 delays earnings release citing insider trading issue

A10 Networks is postponing its quarterly earnings announcement, originally scheduled for Feb. 8, 2018, due to an internal investigation concerning a violation of its insider trading policy by a mid-level employee within its finance department.

The company said its investigation did not identify matters that require material adjustments to be made, however, attention is now being focused on certain revenue recognition matters from the fourth quarter of 2015 through the fourth quarter of 2017 inclusive. Once the investigation is complete, A10 will schedule a conference call to discuss full financial results for the 2017 fourth quarter and full year.

Monday, January 29, 2018

Rambus' quarterly sales rise 4% yoy

Rambus reported quarterly revenue of $101.9 million, 4% higher than a year ago, with GAAP diluted net loss per share of $0.29 and non-GAAP diluted net income per share of $0.19. Total revenue for the year ended December 31, 2017 was $393.1 million, 17% higher than a year ago.

The company also announced changes in its accounting practice regarding the way revenue from licensing its intellectual property will be recognized.

“Rambus has transitioned to focus on two key high-growth markets - the data center and the mobile edge - with a product roadmap that leverages our core competencies and key ingredient technologies to both differentiate and accelerate our position in complementary markets,” said Dr. Ron Black, chief executive officer of Rambus.

Wednesday, January 24, 2018

Comcast increases dividend 21% and stock repurchases by $5 billion

Comcast increased its dividend by 21% to $0.76 per share on an annualized basis. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of $0.19 a share on the company’s common stock, payable on April 25, 2018 to shareholders of record as of the close of business on April 4, 2018.

The company also said it plans to repurchase at least $5.0 billion of its common stock during 2018, subject to market conditions.

F5 posted revenue of $523.2 million - up 1.4% YoY, growing software sales

F5 posted revenue of $523.2 million for its first quarter of fiscal 2018, up 1.4% from $516.0 million in the first quarter of fiscal 2017. GAAP net income for the first quarter of fiscal 2018 was $88.4 million, or $1.41 per diluted share, compared to $94.2 million, or $1.44 per diluted share in the first quarter of fiscal 2017. Excluding the impact of stock-based compensation, amortization of purchased intangible assets, and non-recurring tax expenses, non-GAAP net income for the first quarter of fiscal 2018 was $141.6 million, or $2.26 per diluted share, compared to $130.3 million, or $1.98 per diluted share in the first quarter of fiscal 2017.

“We continue to see momentum with our software offerings, driven by customers deploying our solutions on-premises and in the public cloud,” said François Locoh-Donou, F5 President and Chief Executive Officer. "The organizational changes and go-to-market initiatives we began to put into place last year are gaining momentum and we expect to see increasing benefits as the current year progresses.

“Our recent State of Application Delivery report highlights a number of emerging trends across the global application landscape. It is clear, applications and related services are taking an increasingly important role as digital transformation reshapes the modern enterprise. We are well positioned to benefit from these broader industry trends as customers require more multi-cloud support, IT automation, and application security.”

Thursday, January 18, 2018

Mellanox posts record Q4 revenues of $237.6M, up 7% yoy

Mellanox Technologies reported revenues of $237.6 million for the fourth quarter and $863.9 million in fiscal year 2017.

GAAP operating loss was $(6.7) million, or (2.8) percent of revenue, in the fourth quarter, and was $(17.1) million, or (2.0) percent of revenue, in fiscal year 2017.Non-GAAP operating income was $38.0 million, or 16.0 percent of revenue, in the fourth quarter, and $118.7 million, or 13.7 percent of revenue, in fiscal year 2017.

GAAP gross margins were 64.1 percent in the fourth quarter, and 65.2 percent in fiscal year 2017.
Non-GAAP gross margins were 68.8 percent in the fourth quarter, and 70.4 percent in fiscal year 2017.

“We are pleased to achieve record quarterly and full year revenues,” said Eyal Waldman, President and CEO of Mellanox Technologies. “2017 represented a year of investment and product transitions for Mellanox. Fourth quarter Ethernet revenues increased 11 percent sequentially, due to expanding customer adoption of our 25 gigabit per second and above Ethernet products across all geographies. We are encouraged by the acceleration of our 25 gigabit per second and above Ethernet switch business, which grew 41 percent sequentially, with broad based growth across OEM, hyperscale, tier-2, cloud, financial services and channel customers. During the fourth quarter, InfiniBand revenues grew 2 percent sequentially, driven by growth from our high-performance computing and artificial intelligence customers.

IBM's Q4 cloud revenues increased 27% to $5.5 billion

IBM reported fourth-quarter revenue of $22.5 billion, up 4 percent (up 1 percent adjusting for currency).

There was a GAAP net loss of $1.1 billion from continuing operations, including a one-time charge of $5.5 billion associated with the enactment of U.S. tax reform.. Non-GAAP operating revenue was $4.8 billion.

"Over the past several years we have invested aggressively in technology and our people to reposition IBM,” said James Kavanaugh, IBM senior vice president and chief financial officer. "2018 will be all about reinforcing IBM's leadership position in key high-value segments of the IT industry, including cloud, AI, security and blockchain."

Fourth-quarter cloud revenues increased 30 percent to $5.5 billion (up 27 percent adjusting for currency).

IBM said its cloud revenue over the last 12 months amounted to $17.0 billion, including $9.3 billion delivered as-a-service and $7.8 billion for hardware, software and services to enable IBM clients to implement comprehensive cloud solutions.

Wednesday, January 17, 2018

ADTRAN reports disappointing Q4 following slowdown with tier 1 US carrier

ADTRAN reported Q4 2017 sales of $126.5 million compared to $163.0 million for the fourth quarter of 2016. Net income was a loss of $11.1 million compared to income of $7.6 million for the fourth quarter of 2016. Earnings per share, assuming dilution, were a loss of $0.23 compared to income of $0.16 for the fourth quarter of 2016.

Non-GAAP earnings per share were $0.05 compared to $0.21 for the fourth quarter of 2016.

ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, “As we previously disclosed, our results for the quarter were negatively affected by a merger-related review and spending slowdown by a domestic Tier 1 customer. While this disruption continues to impact our business, our overall expectations regarding our domestic and international programs and opportunities remain positive. The company’s engagement with leading service providers across the globe is extremely strong, with high interest and acceptance of our next-generation Software Defined Access solutions. ADTRAN is well positioned to help our carrier and MSO customers successfully manage the transition to a fully realized Gigabit and beyond marketplace by providing the industry’s most innovative and complete portfolio of transformative SD-Access solutions so that any subscriber, in any market, can realize the full potential of the network.”




Wednesday, January 10, 2018

NETSCOUT trims financial guidance citing constrained SP spending

Citing tightened service provider capital spending in North America, NETSCOUT announced disappointing preliminary financial results for its third quarter of fiscal year 2018 ended December 31, 2017 and trimmed its outlook for the full fiscal year.

NETSCOUT expects third-quarter fiscal year 2018 GAAP revenue in the range of approximately $267 million and $271 million with non-GAAP third-quarter revenue anticipated to be in the range of approximately $270 million to $274 million. NETSCOUT’s GAAP net income for the third quarter of fiscal year 2018 is anticipated to range to between $87 million and $90 million, or $0.99 per share (diluted) and $1.02 per share diluted. NETSCOUT’s non-GAAP net income for the third quarter of fiscal year 2018 is anticipated to range to between $58 million and $61 million, or $0.66 per share (diluted) and $0.69 per share (diluted).

Anil Singhal, NETSCOUT’s president and CEO, stated, “As we have previously disclosed, we were optimistic that we could offset the anticipated, substantial decline in spending by our largest tier-one service provider customer with a strong second half of the year aided in large part by modest expansion across our other service provider customers and solid growth in our enterprise customer segment. However, we are unable to achieve our targets as service provider capital spending in North America remains under significant pressure, we experience lengthening enterprise sales cycles as our customers grapple with major digital transformation initiatives and related changes to their technology architectures, and we face funding delays for multiple large federal government projects. These dynamics, among others, impacted third-quarter revenue and we expect that to extend into our fourth quarter. Although we have taken certain one-time actions that will reduce our overall third-quarter cost structure by approximately $25 million, primarily through adjustments in variable incentive compensation, the magnitude of the anticipated top-line shortfall will have a tangible impact on our full-year operating profitability and earnings per share performance.”

NETSCOUT also announced that it plans to enter into accelerated share repurchase agreements.

Tuesday, January 9, 2018

Altice restructuring spins out U.S. operations

Roughly 18 months after acquiring Cablevision Systems, the leading MSO in the NY metro region in a deal valued at $17.7 billion at the time, Altice N.V. announced a corporate restructuring centered on the separation of Altice USA from Altice Europe.

The separation is to be effected by a spin-off of Altice NV’s 67.2% interest in Altice USA through a distribution in kind to Altice NV shareholders.

Following the spinoff, the two companies will be led by separate management teams.

Patrick Drahi, founder of Altice, will retain control of both companies through Next2 and will serve as President of the Board of Altice Europe and Chairman of the Board of Altice USA.

In addition, Altice Europe will reorganize its structure comprising Altice France (including French Overseas Territories), Altice International and a newly formed Altice Pay TV subsidiary.

“The separation will allow both Altice Europe and Altice USA to focus on their respective operations and execute against their strategies, deliver value for shareholders, and realize their full potential. Both operations will have the fundamental Altice Model at their heart through my close personal involvement as well as that of the historic founding team," stated Patrick Drahi.

See also