London: Newly formed Virgin Media posted yesterday fourth-quarter revenues slightly above expectations at £1.08 billion ($2.14 billion) but said net customer losses remained flat at 37,000.
A consensus estimate from analysts provided by the company predicted revenues at £1.05 billion.
The group, which was launched last month from the merger of NTL, Telewest and Virgin's mobile phone division, said cable churn, or the percentage of customers who left the service, was reduced to 1.7 per cent, down from a pro-forma 1.8 per cent the previous quarter.
ARPU, the average amount of revenue per user was £42.82, up 34 pence from the previous quarter. It signed 78,100 new broadband subscribers in the quarter and 38,500 total TV net additions, up from 22,200 in the previous quarter.
Its operating income rose to £9.2 million from a loss of £9.6 million in the previous quarter and a loss of £19.4 million a year ago on a pro-forma basis.
Virgin Media's largest shareholder is British entrepreneur Richard Branson.
