Liberty Puerto Rico nearly triples revenue in 1st full quarter after AT&T acquisition
Liberty Puerto Rico reported a combined revenue of $361.3 million during the first quarter of the year, a growth that benefited from the inclusion of AT&T’s wireless and wireline operations.
When compared with the same year-ago quarter, when $104.6 million in revenue was reported, the current figure represents a 245% jump, according to the company’s financial report. The difference comes from the AT&T operation, which Liberty acquired in October 2020.
The growth included growth in revenue generating unit (RGU) additions, subscribers and income as it continues to integrate its mobile operations, said Liberty Puerto Rico CEO Naji Khoury.
“We’re very happy with the way the transition is going,” he said. “The numbers for this quarter show we’re headed in a good direction. We’re very grateful for our customers who are showing their trust and will continue to see how much more we can offer them under the Liberty brand.”
Fixed RGU additions momentum continued with 25,000 additions in the quarter, more than double the prior-year period and taking additions over the past 12 months to 136,000.
Broadband RGU additions drove the increase in both periods as Liberty increased penetration of its high-speed data connectivity solutions.
In its first full quarter, Liberty Mobile saw an increase in postpaid subscribers, keeping a flat subscriber base with over one million mobile subscribers, company officials said.
Recently, Liberty Puerto Rico took the next step in its integration process with AT&T Mobility as it entered its co-branding stage. AT&T stores, mobile services communications and advertising now feature Liberty’s logo alongside AT&T’s. Liberty also unveiled its first sales and service center offering its mobile, video, broadband internet, and digital telephony services under one roof.
The co-branding milestone also brought an additional benefit to existing customers subscribed to the Next Up program. Qualified customers could get an additional discount of $350 when upgrading to a new smartphone under the program.
This offer joins an updated version of a rate plan for tablets and mobile hotspots that offers 100GB for $55 per month, and the Unlimited 50+ mobile rate for customers ages 50 and up. All offers are available for new as well as existing customers.
Liberty continues to focus on deploying and expanding its 5G service, which covers over 95% of the population in all Puerto Rico and the US Virgin Islands. Khoury said there are 1,300 projects planned to increase capacity, coverage and 5G running since January.