Liberty Global posts net loss in Q2

5 Aug 2009

US-based telecoms group Liberty Global has reported a net loss of USD93.1 million for the three months ended 30 June 2009, down from a profit of USD428.2 million in the same period a year earlier. Revenues for the quarter declined by USD60.7 million year-on-year, down to USD2.65 billion. Operating expenses were down for the period, from USD359.7 million in Q208 to USD301.9 million a year later. However the reduction in expense was cancelled out by USD286.1 million in non-operating expenses, as the company incurred losses on derivative instruments of USD398.5 million for the second quarter, compared to gains of USD406.4 million in 2008.

The firm also saw its consolidated group customer base shrink in the three-month period, as its base receded to 16.65 million from 16.7 million at the end of the previous quarter. The number of revenue generating units (RGUs) increased by 4.1% year-on-year however, up from 15.99 million at the end of June 2008. Liberty’s European broadband arm, UPC, reported a 2.8% drop in RGUs over the year, down from 9.43 million in Q208 to 9.16 million a year later.