Liberty Global lowers forecasts after weak Q1
Details
Michelle Clancy
| 08 May 2017

Liberty Global plc has lowered its growth target for Europe after a weaker-than-expected Q1, especially for business in the UK.

The company’s adjusted revenue rose 2.1% to $3.52 billion for the quarter, matching the average of analysts’ estimates, and net loss narrowed to $293 million from $334 million. And overall, the company added 244,300 net accounts in Europe, including video, phone and Internet. But in the UK and Ireland, the company added just 158,000 net customers. Mobile revenue fell 9% and average revenue per unit increased 1%. Revenue for the Latin America and Caribbean unit, including Cable & Wireless Communications, came in at $911 million.

First quarter operating cash flow rose 4% from a year earlier to $1.6 billion (excluding the Netherlands where the company has a joint venture with Vodafone). That’s a slowdown from 7.5% growth in the fourth quarter.

Yet despite the sluggish first quarter, the company forecasts higher growth in the second half of the year.