Liberty Global announced its financial and operating results for the third quarter ended September 30th, 2011. Highlights were the organic additions of RGUs increased 96 per cent to 327,000 revenue of $2.61 billion up 4 per cent and operating income increased 17 per cent to $522 million.
Liberty Global’s President and CEO Mike Fries said, “Our third quarter results highlight the increasing traction of our triple-play offers which were instrumental in delivering our best Q3 subscriber growth in history. Given the current environment, we continue to be impressed with our European operations, which produced approximately 90 per cent of our Q3 net additions. With the fastest broadband speeds available and a stronger price-value relationship than our DSL-based competition, we are clearly gaining share in key markets.”
“Building scale in Europe is a key strategic goal for us, and we recently completed the acquisition of Poland’s fourth largest cable operator. Additionally, we expect the regulatory decisions on the sale of Austar in Australia and the acquisition of KBW in Germany to be finalized by November 30th and December 15th of this year, respectively.”
“On the technology front, we’re on track to launch our Horizon platform in the Netherlands early next year, and believe it has the potential to differentiate our digital video services much in the way that DOCSIS 3.0 improved our competitive advantage for broadband within our markets. Our Horizon platform, with a simple and intuitive 3D-rendered interface and a powerful search and recommendation engine, will provide an elegant media and entertainment platform, seamlessly integrating cable, web-based and personal content. Our consumers will be able to easily navigate, share and view content on multiple screens and devices wirelessly throughout the home.”
Liberty provides 29.3 million services, consisting of 16.9 million video, 7.2 million broadband internet and 5.2 million telephony RGUs, to our 17.9 million unique customers.
For the three and nine months ended September 30th, 2011, our video losses of 58,000 and 226,000, represented improvements of 35 per cent and 28 per cent, respectively, as compared to the prior-year periods.