Liberty Global Swings to Quarterly Profit

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)

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