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Liberty Global (LBTYA) Incurs Loss in Q2, Revenues Lag Y/Y
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Liberty Global Plc. (LBTYA - Free Report) , a leading European quad-play cable MSO (multi service operator), reported disappointing financial results in the second quarter of 2017.
GAAP net loss in the second quarter was $637 million or a loss of 75 cents per share compared with net income of $101 million or 23 cents per share in the prior-year quarter.
Quarterly total revenue of $3,663.7 million too declined 18.1 % year over year.
Operating cash flow in the reported quarter was $1,733.3 million, down 16.5% year over year. Quarterly operating cash flow margin was 47.3% compared with 46.4% in the year-ago quarter.
In the second quarter of 2017, Liberty Global generated $1,508.7 million of cash from operations compared with $1,543.2 million in the year-ago quarter. Adjusted free cash flow, in the reported quarter was $325.1 million compared with $516.4 million in the prior-year quarter.
At the end of second-quarter 2017, Liberty Global had $1,100 million of cash and cash equivalents and $40,700 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 $3,343 million, down 20.3% year over year. Revenues from Central and Eastern Europe came in at $288.6 million, increasing 5.3% year over year. Central and other revenues were $31.6 million. Corporate and other revenues totaled $0.5 million.
Subscriber Statistics
In the reported quarter, Liberty Global added a total of 161,900 RGUs, (revenue generating units) including net gains of 100,100 and 77,900 subscribers for broadband internet and telephony services, respectively. However, the company lost 16,100 video customers. Nonetheless, it added 5,800 mobile customers including a net gain of 98,700 postpaid subscribers and a net loss of 92,900 prepaid subscribers. In the reported quarter, Liberty Global added a net of 302,000 customers for its flagship Horizon TV-platform, Yelo TV platform and TiVo Inc. developed TV-platform.
Liberty Global PLC Price, Consensus and EPS Surprise
Liberty Global and Vodafone Group plc. (VOD - Free Report) 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 Netfix Inc. (NFLX - Free Report) 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.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
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Liberty Global (LBTYA) Incurs Loss in Q2, Revenues Lag Y/Y
Liberty Global Plc. (LBTYA - Free Report) , a leading European quad-play cable MSO (multi service operator), reported disappointing financial results in the second quarter of 2017.
GAAP net loss in the second quarter was $637 million or a loss of 75 cents per share compared with net income of $101 million or 23 cents per share in the prior-year quarter.
Quarterly total revenue of $3,663.7 million too declined 18.1 % year over year.
Operating cash flow in the reported quarter was $1,733.3 million, down 16.5% year over year. Quarterly operating cash flow margin was 47.3% compared with 46.4% in the year-ago quarter.
In the second quarter of 2017, Liberty Global generated $1,508.7 million of cash from operations compared with $1,543.2 million in the year-ago quarter. Adjusted free cash flow, in the reported quarter was $325.1 million compared with $516.4 million in the prior-year quarter.
At the end of second-quarter 2017, Liberty Global had $1,100 million of cash and cash equivalents and $40,700 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 $3,343 million, down 20.3% year over year. Revenues from Central and Eastern Europe came in at $288.6 million, increasing 5.3% year over year. Central and other revenues were $31.6 million. Corporate and other revenues totaled $0.5 million.
Subscriber Statistics
In the reported quarter, Liberty Global added a total of 161,900 RGUs, (revenue generating units) including net gains of 100,100 and 77,900 subscribers for broadband internet and telephony services, respectively. However, the company lost 16,100 video customers. Nonetheless, it added 5,800 mobile customers including a net gain of 98,700 postpaid subscribers and a net loss of 92,900 prepaid subscribers. In the reported quarter, Liberty Global added a net of 302,000 customers for its flagship Horizon TV-platform, Yelo TV platform and TiVo Inc. developed TV-platform.
Liberty Global PLC Price, Consensus and EPS Surprise
Liberty Global PLC Price, Consensus and EPS Surprise | Liberty Global PLC Quote
Latest Development
Liberty Global and Vodafone Group plc. (VOD - Free Report) 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 Netfix Inc. (NFLX - Free Report) 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.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>