International Operations Boost Liberty Global in Q2

Cable Systems Drive Growth Across the Board

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.