Shares of Altice USA (NYSE: ATUS) plummeted 7.91% in pre-market trading on Thursday following the release of disappointing third-quarter results and a significant net loss. The cable television provider reported earnings that fell short of analyst expectations, coupled with a substantial impairment charge.

Altice USA posted a quarterly revenue of $2.108 billion, missing the analyst consensus estimate of $2.139 billion by 1.46%. This represents a 5.37% decrease compared to the same period last year. The company reported a net loss attributable to stockholders of $1.63 billion, or $3.47 per share, which includes a $1.6 billion non-cash impairment charge. Adjusted earnings per share came in at $(0.12), significantly below the analyst estimate of $(0.07).

Despite the negative results, Altice USA reaffirmed its full-year outlook, maintaining its adjusted EBITDA guidance of $3.4 billion for fiscal year 2025. The company also announced it will change its corporate name to Optimum Communications on November 7, 2025, and will begin trading under the new NYSE ticker symbol "OPTU" from November 19, 2025. While Altice USA highlighted some positive developments, such as reaching over 700,000 fiber customers, investors seemed more focused on the company's financial struggles and the challenging market conditions it faces in a highly competitive and low-growth environment.