- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
The company said its quarterly operating cash flow amounted to $1.9 billion, up 3.7 percent, with revenue up 3.1 percent to $4.0 billion.
Liberty Global’s continuing operations posted quarterly operating cash flow of $1.3 billion, up 3.3 percent, with revenue up 2.7 percent to $3.0 billion. The company, which operates in various European markets, has agreed to sell its Eastern European and German cable operations to wireless giant Vodafone.
Liberty Global said it added 42,900 net subscribers in the second quarter for the businesses it will continue to own. That was driven by the addition of 32,400 telephony customers and 22,000 broadband users, partially offset by a loss of 11,500 video subscribers.
CEO Mike Fries particularly lauded the performance of U.K. cable giant Virgin Media. “Our second-quarter results were underpinned by continued momentum at Virgin Media, which generated record second-quarter rebased revenue and subscriber growth,” he said. “Our other operations delivered mixed results, with Germany achieving a solid performance, offset by challenging competitive markets in Switzerland and Belgium.”
Sign up for THR news straight to your inbox every day