Liberty reports second quarter loss
By Caribbean Business
on August 8, 2017
ENGLEWOOD, Colo. – Liberty Global PLC (LBTYB) on Monday reported a second-quarter loss of $636.6 million, after reporting a profit in the same period a year earlier.
The Englewood, Colorado-based company said it had a loss of 75 cents per share.
The internet, mobile phone and fixed-line phone company posted revenue of $3.66 billion in the period.
Liberty Global shares have increased 12 percent since the beginning of the year.
In the company earnings’ subscriber growth section, Liberty Puerto Rico reported subscriber losses of 3,000 “as our telephony performance weakened and we saw slightly greater video subscriber decline relative to the prior-year period. Broadband RGU [revenue generating unit] performance was marginally better year-over-year as our market-leading speeds, including 400 Mbps for our top-tier offering, continue to resonate with our customer base.”
As part of the release’s cash flow highlights, it says “rebased OCF [operating cash flow] growth of 7% was primarily supported by lower direct costs and an increase in revenue.”
Puerto Rico’s mention in the company’s revenue highlights reflects “rebased revenue growth of 1%,” which “was driven by subscriber growth over the last twelve months and Puerto Rico’s B2B business.”
-The Associated Press contributed to this report.