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Liberty Global (LBTYA) Beats Q3 Earnings, Revenue Estimates

Liberty Global Plc. LBTYA reported impressive financial results in the third quarter of 2017.

GAAP net loss in the second quarter was $460 million or a loss of 55 cents per share against net income of $250 million or18 cents per share in the prior-year quarter. However, quarterly net loss per share of 55 cents was better than the Zacks Consensus Estimate of a loss of 75 cents. 

Liberty Global PLC Price, Consensus and EPS Surprise


Liberty Global PLC Price, Consensus and EPS Surprise | Liberty Global PLC Quote

Quarterly total revenues of $3,878.5 million declined 10.1 % year over year, surpassing the Zacks Consensus Estimate of 3,850 million.

Operating cash flow in the reported quarter was $1,835.7 million, declining 10.9% year over year. Quarterly operating cash flow margin was 47.3% compared with 47.8% in the year-ago quarter.

In the third quarter of 2017, Liberty Global generated $1,229 million, reflecting an increase of 17.2% year over year. Adjusted free cash flow, in the reported quarter was $715 million, reflecting an increase of 28% year over year.

At the end of third-quarter 2017, Liberty Global had $1,579.1 million of cash and cash equivalents and $40,502.2 million of outstanding debt on its balance sheet compared with $3,400 million and $37,800 million, respectively, at the end of 2016.

Segment-Wise Results

Within the European operations, revenues from Western Europe totaled $3,535.9 million, down 12.4% year over year. Revenues from Central and Eastern Europe came in at $306.6 million, increasing 11.7% year over year. Central and other revenues were $35.4 million. Corporate and other revenues totaled $0.8 million.

Subscriber Statistics

In the reported quarter, this leading European quad-play cable MSO (multi service operator) added a total of 204,400 RGUs, (revenue generating units) including net gains of 132,900 and 102,300 subscribers for broadband Internet and telephony services, respectively. However, the company lost 30,800 video customers.

Nonetheless, it added 47,800 mobile customers including a net gain of 75,400 postpaid subscribers and a net loss of 27,600 prepaid subscribers. In the reported quarter, Liberty Global added a net of 216,000 customers for its flagship Horizon TV-platform, Horizon-Lite, Virgin TV V6, Yelo TV platform and TiVo Inc. TIVO developed TV-platform.

Latest Development

Liberty Global and Vodafone Group plc. VOD have merged their Dutch operations, which will likely boost the company’s business in the second half of 2017. Apart from this, the launch of DOCSIS 3.1 network services, the long-term agreement with Netflix Inc. NFLX and the takeover of Cable & Wireless are expected to drive growth in the future. Liberty Global currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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