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Liberty Global Boasts Strong Q1 Results

Boosted by the strong Q1 performance of its sprawling UPC Broadband division, Liberty Global started off the year on the right foot. The large multi-national MSO, which has almost 10.8 million basic cable subscribers, reported strong revenue and cash flow gains late last week as it added 437,000 new broadband, VoIP and video customers in the first quarter. Liberty Global, which operates cable systems in 18 countries on four continents outside North America, scored particularly well in the broadband and digital video departments during the winter quarter. On the high-speed front, the MSO netted 200,300 cable modem subscribers in "organic growth" from continuing operations, boosting its overall customer count over the 3.3 million mark. Most of the gain came in Europe. Similarly, Liberty Global picked up 250,900 digital video subscribers in organic growth from continuing operations, with well over half of the total coming from its European cable systems. As a result, the company closed out the first quarter with nearly 1.9 million digital subscribers even though it shed some 221,200 analog cable subscribers from cable systems that it continued to hold. Finally, Liberty Global signed up 174,200 new cable telephony customers in the first quarter, thanks largely to UPC's recent rollout of VoIP service across seven European nations. The MSO now claims nearly 2.4 million phone customers around the world, with Japan, Europe and Chile accounting for most of them.
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