Shares of Liberty Global (LBTYA) climbed more than 15 percent on Thursday after the telecommunications company released its fourth quarter fiscal report on Wednesday.
The largest broadband internet service provider outside of the U.S. posted revenue of $4.22 billion in Europe, down 1.7 percent year-over-year, and revenue of $922.9 million in Latin America and the Caribbean, up 198 percent year over year.
For the year, the conglomerate boasted 946,000 new European subscribers and 94,000 organic Latin American and Caribbean division subscribers, aided by higher broadband speeds.
CEO Mike Fries also discussed the multiple mergers and acquisitions that have also aided in expansion and growth.
"On the M&A front, 2016 was a busy year. We completed our joint venture with Vodafone in the
Netherlands at year-end. And in October, we announced the proposed acquisition of Multimedia Polska, the third largest cable operator in Poland," Fries said. "With regards to LiLAC, our Latin American and Caribbean business, we closed the acquisition of Cable & Wireless ("CWC") in May 2016."
Liberty Global is comprised of two stocks: LILA (LBTYA), its European division and LILAK (LBTYA), its Latin America and Caribbean division. LILA closed Wednesday at $22.29 per share and LILAK closed at $21.83 per share.
LILA 5-Day performance
LILAK 5-Day performance
Correction: This story has been updated to reflect that the revenue of $922.9 million came from the Latin American and Caribbean division.
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