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Liberty Global's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: LBTYA

Before we get going, I think we have a Safe Harbor statement. Operator?

Operator

Thank you. Page 2 of the slides details the company’s Safe Harbor statements regarding forward-looking statements. Today’s presentation may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the company’s expectation with respect to its outlook for 2011 and future growth prospects and other information and statements that are not historical facts.

These forward-looking statements involve certain risks that could cause actual results to differ materially from those expressed or implied by these statements. These risks include those detailed from time-to-time in Liberty Global’s filings with the Securities and Exchange Commission, including its most recently filed Forms 10-K/A and 10-Q. Liberty Global disclaims any obligation to update any of these forward-looking statements to reflect any change in its expectations or in the conditions on which any such statement is based.

I would now like to turn the call back over to Mr. Mike Fries.

Mike Fries – President and Chief Executive Officer

Great, thanks. The agenda we will use here is pre-typical. I will make some opening remarks, talk about the highlights of our business, little bit our operations and then Charlie will run through the financials and then we will try to get to your questions hopefully in about 20 minutes.

As the operator said we are going to be speaking from slide today and I am going to start with slide four which is a quick snapshot of the quarter for us. I think the key storyline continues to be our subscriber growth. This was our strongest third quarter in history with 320,000 net new RGUs added. In fact as most of you know, the summer months are typically very quiet in our business and yet we just delivered the second biggest quarter we have ever had. And the driver continued to be the strong demand for our high-speed high-value bundles, especially in Europe which represented over 90% of our sub-growth and were eighth out of our 11 European markets are growing faster this year than last year.

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