Shares of Altice USA Inc. (ATUS) tumbled 6.51% in pre-market trading on Thursday following the release of its third-quarter earnings report, which revealed disappointing financial results and a significant net loss.

The cable television provider reported a net loss of $1.63 billion for Q3 2025, or $3.47 per share, falling far short of analysts' expectations. This substantial loss included a $1.6 billion non-cash impairment charge. The company's revenue also declined by 5.4% year-over-year, reflecting the challenges of intense competition and a low-growth environment in the telecommunications sector.

Despite the negative results, Altice USA maintained its full-year Adjusted EBITDA outlook of $3.4 billion for fiscal year 2025. The company also announced plans to change its name to Optimum Communications, Inc. and its NYSE ticker symbol to "OPTU" effective November 19, 2025, aligning with its Optimum brand.

While Altice USA highlighted some positive developments, such as reaching over 700,000 fiber customers (a 46% increase year-over-year) and plans to launch 2-Gig speeds in its first market by November 2025, investors seemed more focused on the company's financial struggles and the challenging market conditions it faces.