Q1 Profit for Liberty Global

ENGLEWOOD: Delivering a 28-percent increase in revenues to $2.2 billion, Liberty Global reported a $736.6 million profit in the first quarter, as compared with a $298.7 million loss in the same period last year.

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“Our first quarter figures demonstrate continued momentum in our core cable business driven by strong demand for our advanced services, especially our next-generation broadband products," said Mike Fries, the cable giant’s president and CEO. "In particular, we posted a record quarter in terms of our European broadband Internet and telephony organic subscriber additions."

As at March 31, 2010, Liberty Global had 17.8 million customers. In the period the company gained 5.7 million RGUs from the Unitymedia acquisition and made 204,000 organic additions, 96 percent of which were in Europe. (It also offloaded J:COM, with 5.9 million RGUs, and lost 15,500 RGUs in Chile due to the earthquake.) Of the organic additions, key customer gains were made in Germany, Netherlands, Belgium and Poland.

Liberty Global reports that digital cable was its strongest product in the quarter, with 286,000 organic additions, including 270,000 in Europe and 17,000 in Chile. The company ended the quarter with 6 million digital cable RGUs and an analogue customer base of 9.7 million.

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