Liberty Global Q4 Loss Narrows

(RTTNews) - Liberty Global (LBTYA, LBTYB and LBTYK) reported that its fourth-quarter net loss attributable to shareholders narrowed to $1.03 billion from $1.39 billion last year.

Revenue for the quarter increased 14.9% to $3.43 billion from the prior year, primarily driven by the impact of the acquisition of Sunrise, positive foreign exchange movements, mainly related to the strengthening of the British Pound, Euro and Swiss Franc against the U.S. dollar and organic revenue contraction. Rebased revenue declined 0.5% in the fourth-quarter.

Looking ahead to 2021, the company anticipates modest rebased revenue increases in its four largest markets (UK, CH, NL, BE) as customer growth, price increases and B2B services continue the momentum experienced in 2020.

During the fourth-quarter, the company gained 56,000 customer relationships, as compared to a loss of 26,000 in the prior-year period, representing best quarter over quarter performance for consolidated operations in the past 5 years.