Technology

Liberty Global Q2 revenue up by 5.% to $2.52 bn

MUMBAI: International cable company Liberty Global has reported a 5.2 per cent jump in revenue to $2.52 billion for the second quarter ended 30 June.


Operating Cash Flow was $1.19 billion, reflecting rebased growth of 2.5 per cent. Operating income decreased by three per cent to $479 million. Adjusted Free Cash Flow increased by 24 per cent to $186 million.


Liberty Global has added over 800,000 RGUs during the first six months of the year, reflecting strong demand for our market-leading, triple-play bundles.


Liberty Global president, CEO Mike Fries said, ?These gains helped drive our second consecutive quarter of more than five per cent rebased revenue growth. As we expected, rebased OCF growth was modestly below our first quarter result at 2.5 per cent for Q2, which should represent the low point for the year. We remain committed to driving free cash flow growth, with Adjusted FCF increasing 19 per cent year-to-date to $466 million compared to the same period last year.?


Providing guidance for the full year, the company said that as it moved into Q3 and Q4, it expected to generate accelerating rebased OCF growth due largely to the strong volume growth achieved during the first six months, as well as margin expansion in Germany.


?Product innovation remains a core focus of ours as we strengthen our leadership position in digital video products and services. We intend to roll out our next-generation Horizon video platform in the Dutch market next month, followed by Switzerland in Q4. On the wireless front, we launched our 4G mobile service in Chile in mid-May. Although it?s still early, we are very encouraged by the traction that we are getting from existing, as well as new customers," said Fries.


Also, having added nearly 30,000 wireless subscribers in the first six months, the company expects to see customer take-up accelerate.


The company was engaged in several merger and acquisition activities during the second quarter. First, it closed the sale of its interest in Australian business, Austar, in late May, generating roughly $1.1 billion in proceeds.


Subsequently, Liberty announced an agreement to create the leading cable operator in Puerto Rico by combining OneLink?s and its own cable operations into a joint venture that gives the entity control and consolidation with a 60 per cent majority interest.


"We are also pleased to report that our integration in Germany is proceeding on track with a new management team in place since July 1, combining the best of Unitymedia and KBW,? Fries said.


Liberty‘s consolidated liquidity position stands at approximately $4.0 billion, including $1.9 billion of cash and cash equivalents. "This gives us ample capital to deploy into high return investment opportunities, including acquisitions and our stock buyback program. As of June 30, we had repurchased approximately $430 million of equity this year and remain committed to completing our $1 billion target for 2012,? Fries stated.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/16/divesh.jpg?itok=zBE4YL3k
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW ? a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/14/TiVo-800.jpg?itok=YeoN1Hcd
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/09/iot.jpg?itok=8nXgmc_U
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India?s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India?s leading...

Technology Software Firmware
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/08/lexi.jpg?itok=uPD543QG
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ?FalconEye? to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/04/13/nabshow.jpg?itok=S9rP2yss
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights? OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/04/09/magai.jpg?itok=233hZ8S7
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/03/08/tivo.jpg?itok=1e68Zg0C
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo?s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo?s G-Guide xD app and remote schedule...

Technology Hardware Components
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/01/25/priyanka.jpg?itok=s2F-oxzy
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/01/24/etere_0.jpg?itok=PCzLNCEq
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories