Altice: Q1 results: in line with expectations, thanks to diversification!
BUY, Fair Value EUR16,3 (+26%)
This morning Altice published Q1 2016 results for Altice and NC-SFR. Revenues were down 2.7% but slightly above expectations. EBITDA rose by 0.9%, also slightly above consensus. The benefits of diversification are clear: a strong performance in the US and in Portugal offset disappointing results in France. Guidance is confirmed.
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