Virgin Media Reports 6.4% Hike in Revenues in Third Quarter
Q3 revenues hit $1.55 billion, boosted by rise in triple-play customers
LONDON -- U.K. cable operator Virgin Media is bundling up for the winter posting an uptick in revenue in the third quarter of 2010.
The group said subscribers to its broadband, home phone and cable TV services bundle rose and a 1.9% rise in cable customers helped Virgin Media to post a 6.4% year-on-year increase in revenue for the third quarter of 2010.
Virgin Media said total revenues for the third quarter of 2010 hit £978.4 million ($1.55 billion), up from £919.4 million in the same quarter last year.
The company signed up 14,100 cable customers in the third quarter this year, up from 8,100 during the same period last year.
And its TV subscriber base also grew by 14,800 over the three-month period to reach 3.77 million customers.
The company also revealed that "triple-play" customers -- those that take three products in a bundled package -- now represent 62.7% of total subscribers.
Chief executive Neil Berkett noted the results reflected a "continued focus on exploiting our strategic advantages" and Virgin Media's "robust financial discipline."