Liberty Global moves to 3Q loss, misses Street

ENGLEWOOD, Colo. - Liberty Global Inc., which operates cable television and telecommunications services in multiple countries, on Thursday posted a third-quarter loss, reversing a year-ago profit that reflected the sale of some properties.

For the three months ended Sept. 30, the company had a net loss of $309 million, or $1.01 per share, compared with net earnings of $40.4 million, or 10 cents per share. Last year's results included a gain from the sale of assets of $553 million.

Revenue increased 17 percent to $2.65 billion from $2.26 billion last year.

Analysts polled by Thomson Financial, on average, expected the company to break even on a per-share basis, on revenue of $2.7 billion.

The company said its operations in Poland, Chile, Australia, and Ireland had the strongest revenue growth rates over the quarter.

Liberty Global added 441,000 new customers during the quarter, including about 227,000 from acquisitions, for a total of 25.1 million on Sept. 30.

Average revenue per unit, an important measure in the industry, rose 17 percent to $46.10, which the company said reflected continued bundling, or multiple service packages, and favorable foreign exchange movements.

In afternoon trading, Liberty Global shares fell 67 cents, or 4.2 percent, to $15.44.

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