International Operations Boost Liberty Global in Q2

Cable Systems Drive Growth Across the Board

By Jon Hemingway -- Broadcasting & Cable, 8/8/2007 7:46:00 PM

Liberty Global’s consolidated operating results from international operations grew in the second quarter.

Consolidated revenue for Liberty Global rose 37% to $2.18 billion in the second quarter from $1.59 billion in the same quarter a year ago. Within its divisions, UPC Broadband contributed $260 million in revenues with a 16% increase from 2006. Japan’s J:COM saw revenues rise 19.6% to $213 million. Belgium’s Telenet recorded $147.3 million revenues in the quarter, up from $5.5 million a year ago. In Chile, VTR revenues rose 23% to $59.5 million.

While Liberty Global’s operating income jumped to $210 million from $93.5 million in Q2 2006, the company recorded a net loss in the quarter of $129.7 million versus net income of $24.2 million a year ago.

Liberty’s operating cash flow grew 46% to $861 million from $567 million in Q2 2006. The company had negative free cash flow of $9.1 million in the second quarter versus negative cash flow of $82.5 million in Q2 2006, reflecting lower capital expenditures as a percentage of revenue and higher operating income in the quarter.

The company’s total customers rose 107,600 from the first quarter to 16.05 million, and revenue-generating units per customer ticked up in the quarter to 1.44 from 1.43 in Q1.