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UPC 1Q loss widens
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May 15, 2000: 6:48 a.m. ET
Dutch cable operator hit by expansion costs; shares fall
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LONDON (CNNfn) - United Pan-Europe Communications, Europe's largest broadband cable operator, posted a wider first-quarter loss though sales tripled ahead of a series of planned shares issues, its U.S. parent announced on Monday.
Denver-based cable firm United GlobalCom, which owns 50.1 percent of UPC, revealed in its own first-quarter report that the European firm made a net loss of  57.4 million before interest, tax, depreciation and amortization, in line with forecasts among analysts polled by Reuters. Amsterdam-based UPC said its quarterly revenue tripled to 200.3 million euros ($183.4 million).
The loss reflects the company's rapid expansion by acquisitions in Europe, including the $2.8 billion purchase of SBS Broadcasting earlier this year. The company has already warned that spending to extend its services would hit full-year earnings.
UPC shares fell another 7 percent in Amsterdam following the results. The stock has halved from its peak in March.
UPC said its cable TV customer base grew 19 percent to 6.3 million in the first quarter, while its Internet unit, chello, added 59,550 subscribers to take its total to 181,000 at the end of the quarter.
The planned sale of shares in chello on the Amsterdam and Nasdaq exchanges later this month is still set to go ahead, said UPC.
UnitedGlobalCom (UCOMA: Research, Estimates) shares closed up 3-7/16 at 49-7/16 in New York Friday. 
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UPC
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