Liberty Global Q4 Loss Narrows

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration approved Regeneron Pharmaceuticals, Inc.'s Dupixent (dupilumab) to treat eosinophilic esophagitis or EoE, a chronic immune disorder. It is the first FDA approval to treat EoE in adults and pediatric patients 12 years and older weighing at least 40 kilograms. Food products maker J. M. Smucker Co. has recalled select Jif peanut butter products sold in the United States due to potential Salmonella contamination, the U.S. Food and Drug Administration said. The recall involves various creamy, crunchy, natural, no added sugar, and reduced fat peanut butter, among others with lot codes 1274425 - 2140425. Smithfield Packaged Meats Corp. is recalling around 185,610 pounds of ready-to-eat or RTE bacon topping products citing the possible contamination with extraneous materials, specifically metal, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced.
Follow RTT