Liberty Global Q3 losses narrow
November 5, 2009
Liberty Global's third-quarter loss – its fifth in a row – narrowed on higher sales and smaller effects of foreign-currency exchange. Chief Executive Mike Fries said the company demonstrated consistent growth in operating cash flow in the first three quarters of the year and expects to be at the high end of its forecast for 2009. He added the fourth quarter is expected to be the strongest of the year in subscriber additions.
The broadband and cable holding company has seen revenue grow as customers subscribe to service bundles and move to digital services.
Liberty Global reported a loss of $120.3 million compared with a year-earlier loss of $308.9 million. Revenue rose 7.2% to $2.82 billion.