Virgin Media Earnings: Here’s Why Investors Don’t Like These Results
Virgin Media, Inc. (NASDAQ:VMED) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 004%.
Virgin Media, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 97.47% to $0.48 in the quarter versus EPS of $19.00 in the year-earlier quarter.
Revenue: Decreased 35.28% to $1.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Virgin Media, Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company missed the mean analyst estimate of $25.33. It missed the average revenue estimate of $1.05 billion.
Quoting Management: Neil Berkett, Chief Executive Officer of Virgin Media, said: “We have had a good start to the year with accelerated revenue growth, improved churn, and strong free cash flow growth. The great value we provide through our Collections packages, which bundle superfast broadband and our next generation TiVo service, has seen new customers join and our existing customers stay loyal to us. This positive momentum in the business positions us well for our planned merger with Liberty Global.”
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