Liberty Global Swings to Quarterly Profit
May 06 2019 - 4:29PM
Dow Jones News
By Maria Armental
Liberty Global PLC swung to a $7 million profit in the first
quarter from a loss of $1.19 billion a year earlier.
The London-based company, controlled by American media mogul
John Malone, has been restructuring operations through a series of
sales in Europe that are expected to generate about $16 billion in
sales.
On Monday, Liberty reported operating income for the March
quarter of $105.5 million, down 10% from the year earlier, and said
the loss from continuing operations was 43 cents a share, compared
with a loss of $1.70 a share a year earlier.
Revenue from continuing operations fell to $2.87 billion.
It affirmed 2019 targets and said that the Vodafone PLC
transaction remains on track to close this summer and the Sunrise
Communications Group AG transaction to close in the fourth
quarter.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
May 06, 2019 17:14 ET (21:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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