By Kelly Cloonan
Shares of Liberty Global fell after the company cut its full-year guidance for its VodafoneZiggo segment.
The stock was down 11%, to $9.67, midday Friday. Shares have gained 13% over the past 12 months.
The communications-services company on Friday said it expects a "low-single digit decline in revenue growth" for its VodafoneZiggo segment for the year, down from prior guidance of broadly stable sales growth.
The company said the segment's first-quarter results were "heavily impacted by the intensely competitive environment, particularly in the fixed market," with sales down 2.6% from a year ago.
The revised guidance supports the segment's long-term commercial momentum, the company said.
The company maintained its prior full-year guidance for its Telenet segment, guiding for broadly stable revenue growth from 2024.
In the first quarter, the company swung to a consolidated loss of $1.34 billion, or $3.84 a share, compared with a profit of $510 million, or $1.32 a share, a year earlier.
Consolidated revenue rose 7.3%, to $1.17 billion, from a year ago. Analysts expected $1.09 billion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 02, 2025 14:06 ET (18:06 GMT)
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