Liberty Global Sales Beat Estimates on New Customers in Europe
- Sales rose 2.2%, analysts anticipated a small decline
- Liberty Global turns toward expansion in Latin America
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Liberty Global Plc reported a surprising rise in third-quarter revenue, driven by growth in the U.K. and Germany, as billionaire chairman John Malone’s strategy to consolidate the European cable market paid off.
Sales rose 2.2 percent to $4.6 billion from a year earlier, the London-based company said Thursday in a statement. Analysts had predicted revenue would slightly decline to $4.47 billion on average, according to data compiled by Bloomberg. Liberty Global said it had record customer growth in the U.K. of 42,000 in the quarter and another 14,000 in Germany, bringing the company’s total customer base to 25.8 million.