Company Overview of Virgin Media, Inc.
Virgin Media Inc. provides video, broadband Internet, fixed-line telephony, and mobile services to small businesses, medium and large enterprises, public sector organizations, and residential customers. It offers cable products in various packages and tariffs; and high speed broadband Internet services. The company also operates a digital cable platform that includes access to approximately 290 linear television channels, interactive features, and premium subscription-based and pay-per-view services. In addition, the company offers TiVo and digital cable recorders; and Virgin TV On Demand, a digital cable-on-demand service. Further, it provides subscription video on demand and movies service...
1550 Wewatta Street
Denver, CO 80202
Founded in 1993
Key Executives for Virgin Media, Inc.
President and Chief Operating Officer
Chief Executive Officer of Virgin Media - Ireland
Principal Accounting Officer, Vice President and Controller
Compensation as of Fiscal Year 2017.
Virgin Media, Inc. Key Developments
Virgin Media Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Property & Equipment Additions Guidance for 2017; Announces Operating Results for the Second Quarter Ended on June 30, 2017
Aug 8 17
Virgin Media reports earnings results for the second quarter and six months ended June 30, 2017. For the quarter, B2B rebased revenue growth of 4% to £186 million driven by SOHO and SME. Other revenue declined by 15% on a rebased basis to £15 million, mainly due to lower advertising revenue from Irish broadcast business, which benefited from carriage of the European football championships in second quarter 2016. Operating income decreased by £1.5 million to £77.5 million due to higher depreciation and amortization charges, offsetting the improvement in Segment OCF. Property & equipment additions increased to 36% of revenue in second quarter and to 32% of revenue in first half, as compared to 24% and 23% in the respective prior year periods. Total revenue was £1,224.5 million as compared to £1,197.2 million a year ago. Property and equipment additions was £438.8 million as compared to £281.5 million a year ago. Total capital expenditure was £170.4 million as compared to £145.6 million a year ago.
For the six months, the company has posted total revenue of £2,438.5 million against £2,375.1 million a year ago. Property and equipment additions was £769 million as compared to £538.9 million a year ago. Total capital expenditure was £300.9 million as compared to £293.7 million a year ago
The company provided Property & Equipment Additions Guidance for 2017. For the period, property & equipment additions are expected to range between 31% and 33% of revenue.
The company also announced operating results for the second quarter ended on June 30, 2017. For the period, the company's total RGUs were 14,292,700 as compared to 13,948,000 a year ago. Total organic RGU net additions were 78,100 as compared to 50,100 a year ago. Organic Customer Relationship net additions were 21,100 as compared to 24,100 a year ago. Total mobile subscribers were 3,036,100 as compared to 3,033,200 a year ago.
Virgin Media Inc. Announces Unaudited Consolidated Earnings Results for the Quarter Ended March 31, 2017
May 20 17
Virgin Media Inc. announced unaudited consolidated earnings results for the quarter ended March 31, 2017. For the quarter, the company reported revenue of £1,214.0 million against £1,177.9 million a year ago. Operating income was £59.9 against £89.1 a year ago. Loss before income taxes £60.5 million against £67.0 million a year ago. Net loss was £48.7 million against £52.9 million a year ago. Net loss attributable to parent was £47.7 million against £51.9 million a year ago. Net cash provided by operating activities was £387.3 million against £299.0 million a year ago. Capital expenditures were £130.5 million against £145.0 million a year ago.
Virgin Media, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2017
May 7 17
Virgin Media, Inc. reported earnings results for the first quarter ended March 31, 2017. For the quarter, the company rebased revenue growth of 2% to £1,214 million. This increase was driven primarily by rebased growth in cable subscription revenue, partly offset by a decline in mobile subscription revenue. Operating income decreased by £29 million to £60 million in the first quarter of 2017 primarily as a result of increases in depreciation and amortization and higher related-party fees and allocations. Capital expenditure on new build and upgrade totaled £87 million in the first quarter of 2017, most of which was related to Project Lightning and the balance on line extensions to business customers. Property and equipment additions were £330.2 million against £257.4 million a year ago.
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