Why Liberty Global PLC Class C (LBTYK) stock rose in Friday’s aftermarket?

Shares of Liberty Global Ord C (LBTYK) stock rose in the after-market session on Friday, May 8, 2021, after dropping as much as 1.59% with a $27.80 per share price at closing. LBTYK stock price saw a surge of 11.51% to reach $31.00 a share in the late hours of Friday. There is no recent news attributable to the rising LBTYK stock however Liberty Global announced its first-quarter financial results of the year 2021 on May 5, 2021.Let’s understand more of it.

First Quarter Financial Result:

• Liberty stock generated $3,615.3 million in revenue in the first quarter of 2021 which represents an increase of 25.7% YoY.The rebased basis represents an increase of 0.2% over the year.
• Read More
• Best Russell 2000 Stocks to Buy Now
• 3 Best Gold Stocks to Watch for in 2021
• Net earnings for Liberty stock went up by 41.5% over the year to reach  $1.44 billion.
• Adjusted EBITDA was recorded $1,367.3 million in the first quarter of 2021 representing an 18.9% YoY increase over the year.However, on a rebased basis, it represents a 1.7% decrease over the year.
• Fixed-mobile convergence increased from 23% in the first quarter of 2020 to 29% in the first quarter of 2021.
• 113,000 new premises have been built in the first quarter of 2021 by the Liberty stock out of which 80,000 built in the U.K & Ireland.
• Liberty stock reported a strong balance sheet which comprised $0.9 billion of cash, investments of $2.0 billion, and unused borrowing capacity of $2.9 billion.

Customer Growth in Q1 2021.

• Liberty stock gained 38,000 customer relationships in the first quarter of 2021 as compared to a loss of 19,000 in the same period of the previous year.
• In U.K./Ireland, virgin media recorded 31,000 customer relationships in Q1 2021 while the same tenure of previous year shows the loss of 1,000 in customer relationships.
• In Belgium, Telenet represents the loss of 5,000 customer relationships which is an improvement as compared to the loss of 8,000 in the same period of the prior year.
• Sunrise UPC in Switzerland gained 4,000 customer relationships in the first quarter of 2021 and CEE (Poland and Slovakia) gained 7,000 customer relationships which are 1,000 higher than the same period of the previous year.

Conclusion:

After the down performance in the previous trading session, LBTYK stock has now captivated the attraction of investors. First-quarter financial results announced in the previous week show that Liberty stock has shown growth over time. Considering the same growth, LBTYK stock can be a good bet for investors in the long run.