Virgin Media Q1 Total Revenue Up 3%
The company posted a net loss of £160.4m for the first quarter 2010, compared to £154m for the prior year period. Operating income was £76m, compared to £13m for the year ago period.
Cable revenue in the first quarter was up 6 percent at £640m. This increase principally reflects growth in cable ARPU, which increased 5.3 percent to £45.01 as a result of selective price rises, tier mix improvement and growth in products per customer, partially offset by declining fixed line telephony usage.
Neil Berkett, CEO of Virgin Media, said: “This quarter, we added cable customers at our fastest ever rate. A combination of higher gross additions, low churn and increased ARPU enabled us to deliver year-on-year cable revenue growth for the fourth consecutive quarter.
“We are developing our services to exploit our natural network advantage, both now and in the future. More customers than ever before are choosing faster broadband and every day millions of our customers are enjoying the benefits of the video-on-demand revolution we are leading.”
Will the company reduce its net loss in Q2?
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