Altice USA said it expects cash Capex of approximately $1.7 billion to $1.8 billion in 2023 in order to invest in growth initiatives.
Altice’s capital expenditure was $543.2 million (+40.5 percent) representing 22.9 percent of revenue in Q4 2022.
Altice’s capital expenditure in 2022 was $1.91 billion (+55.4 percent), representing 19.8 percent of revenue, driven by fiber-to-the-home (FTTH) rollout and new builds (10.4 percent of revenue excluding FTTH and new builds).
Altice revenue declined 4.4 percent in 2022 to $9.647 billion.
Altice said revenue declined 6 percent in Q4 2022 to $2.37 billion, including Residential revenue decline of 5 percent, Business Services revenue decline of 9.3 percent and News & Advertising revenue decline of 10.8 percent.
“We made great progress against our key initiatives and began to see the benefits of our increased investments, notably around our fiber network expansion, accelerated new build activity, execution of the Suddenlink rebrand to Optimum, improvements in customer care and growing our distribution channels,” Dennis Mathew, Altice USA Chief Executive Officer, said in its earnings report.