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Liberty Global posts Q3 net profit on revenues up 5%
2014-11-06 08:27:00| Telecompaper Headlines
(Telecompaper) Liberty Global reported third-quarter revenues up 5 percent year-on-year to USD 4.5 billion. Organic growth, excluding forex effects and a number of small acquisitions, was 3 percent, led by growth in Belgium and Germany. The cable group added 344,000 revenue-generating units in the three months on an organic basis, for a total 49.2 million at the end of September. The addition of 239,000 broadband customers and 151,000 telephony subscribers helped offset the loss of 46,000 TV customers. At the end of Q3, the group had 10.4 million triple-play customers, which exceeded the single-play customer base (10.1 million) for the first time. Quarterly operating cash flow rose 6 percent to USD 2.1 billion, and the net result turned to a profit of USD 157 million versus a loss of USD 830 million a year ago. Capital expenditure was down slightly to USD 908 million or 20 percent of revenue. Liberty also announced that it has completed the acquisition of Dutch cable operator Ziggo and will start integration of the company immediately. Helped by Ziggo's liquidity, the company also plans to resume its share repurchase programme and buy back USD 2.6 billion in shares over the next 14 months.
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Category:Telecommunications
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