Liberty Latin America (LILAK) Reports Q2 Revenues Above Consensus

Liberty Latin America (NASDAQ: LILAK) reported Q2 revenue for the quarter came in at $922 million versus the consensus estimate of $918.72 million.

CEO Balan Nair stated, "Building on a solid start to the year, we added over 60,000 RGUs in the second quarter, including a record number of quarterly broadband additions. This result shows the potential for our fixed businesses, operating in markets where we believe there is additional demand for high-speed services. In mobile, we are seeing a growing number of subscribers using our LTE networks and we have introduced combo plans (with voice, data and text messages) across our markets to address consumers' changing needs while also aiming to maintain and grow our revenue. We continue to invest in product offerings our customers demand, leveraging the capabilities of our mobile and fixed networks. For example, in addition to Flow-to-go, which we already provide in C&W\'s markets, we recently launched VTR Play in Chile, and Go in Puerto Rico, which enable our customers to stream their favorite TV programs at home or on-the-go."

"Our Puerto Rican business delivered another solid quarter of sequential revenue and OCF2 growth, as we focused on being fastest to market, both in reconnecting existing customers and reaching new customers. Over 90% of our subscribers are now billable, and in Q2 we saw the first quarter of organic net additions since last year's hurricanes with quarterly sales ahead of Q2 2017."

"We have been working for a number of years to design and implement a digital transformation strategy at VTR and I'm excited to announce that this is now being rolled-out. As a result, our customers will benefit from faster and more effective service delivery, which we expect will differentiate us from our competitors and also drive cost efficiencies in our business as we refine our processes. There is tremendous potential to leverage this platform and the learnings from our Chilean business across Liberty Latin America."

"In-line with our expectations, we have continued to expand and improve our fixed networks in 2018, with over 160,000 homes upgraded or added in the first half of the year. We are also investing in high-speed LTE mobile networks, which we anticipate will drive usage and ultimately revenue."

"In our first six months as a separately listed company, we have made significant strides towards creating the culture, structure and platforms required for sustainable future growth and we remain on-track with our 2018 guidance1 targets."

For earnings history and earnings-related data on Liberty Latin America (LILAK) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Newton Golf Company (NWTG) Reports Q2 Loss of $0.49
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c