Liberty Puerto Rico reported consistent revenue and subscriber growth for the second quarter of the year, according to its financial results report.
The company added more than 5,000 customers this quarter, driven by its growth in high speed data subscribers. Liberty’s second quarter 2019 revenue stands at $103.8 million, which represents a 5.3% increase from Q1 2019 and a 29.3% increase compared to the second quarter of 2018 on reported basis, the company reported.
“We have made great advancements in 2019 and this quarter’s results are proof of that. Our continued growth in HSD customers shows the strength and resilience of our broadband infrastructure,” said Naji Khoury, president of Liberty Puerto Rico.
“As of June 2019, we have invested over $39 million in network improvements and other capital projects so far this year. We will continue investing and upgrading our network and offer innovative technology products and services to our customers,” he said.
Khoury added that Liberty is concentrating on its expansion plans, with 5,000 new homes passed this quarter. The company is also focusing on launching products that cater to customers’ on-demand viewing preferences.
In June, Liberty launched its Replay TV feature, which allows television customers to watch already-aired programming regardless of how far along it is in the broadcast or if the show is already over.
Liberty Business, Liberty Puerto Rico’s business division, completed the integration of the Cable & Wireless Puerto Rico operations and brand this quarter.
“As a result, the company is [now] in a stronger position to provide end-to-end IT and telecommunications solutions aimed at mid and large companies,” Khoury said.
Under the unified brand, the company launched three new products: managed network, managed Wi-Fi and managed security. The division is launching cloud PBX, and business continuity later this month.
The second quarter of 2019 also marked the introduction of Liberty Puerto Rico’s new parental leave policy. Established by Liberty Puerto Rico’s parent company, Liberty Latin America, the new policy grants employees in all of the company’s affiliates 16 weeks of fully paid leave for all new mothers and eight weeks of fully paid leave for fathers, he said.
Balan Nair, CEO of Liberty Latin America (LLA), selected the island in May to host its Town Hall Meeting. The company-wide conference was broadcast live from the Puerto Rico Convention Center in San Juan to all of LLA’s more than 10,000 employees across over 20 markets.
Also during the second quarter, Liberty Foundation named Yadira Valdivia as its new executive director. Valdivia brings to Liberty Foundation her experience in the nonprofit sector, mostly in communications, institutional development, and strategic planning, Khoury said.