John Malone's Liberty Global Loses Fewer Pay TV Subs in First Quarter
The international cable giant posts its latest financials and customer figures.
John Malone's international cable giant Liberty Global on Monday reported a narrowed first-quarter loss.
The company's quarterly operating income rose 5 percent to $587 million. Operating cash flow, another profitability metric, rose 0.9 percent, or 3 percent when rebasing year-ago results, to $2.12 billion. First-quarter revenue rose 3 percent to $4.59 billion.
Liberty Global recorded revenue generating units (RGUs) additions of 156,000, more than double the year-ago figure helped by its strongest first-quarter U.K. result in six years. Its video subscriber losses in Europe in the quarter amounted to 141,800, while it added 3,500 video subs in Latin America. That meant an overall decline of 138,300 subs, compared with the 169,000 video sub loss in the year-ago period, including a loss of 164,000 subs in Europe.
As of March 31, Liberty Global provided 53.6 million subscription services to 25.7 million unique customers in Europe. These services consisted of 22.6 million video, 16.9 million broadband and 14.1 million telephony subscriptions.
The company provided 3.5 million subscription services to 1.7 million unique customers in Latin America. They consisted of 1.3 million video, 1.3 million broadband and 900,000 telephony subscriptions.