Deutsche Bank Color On Virgin Media Q4 Announcement (VMED)

Deutsche Bank published a research report providing color on Virgin Media VMED today on the heels of Virgin Media's Q4 announcement. Deutsche Bank has previously rated Virgin Media as a Hold. In the report, Deutsche Bank states, "VMED Q4 results a solid beat. Revenues 1.2% ahead of cons, 0.7% ahead of DBe (stronger Cable & Mobile though Business a bit light). OCF 3.3% ahead of consensus (+2.8% vs DBe) with margins 0.8pp ahead of DBe (though substantially due to a £7m reversal of facilities costs). FCF 5.8% ahead of DBe, 22.2% ahead of cons (cash capex close to DBe but lower than cons). Net debt in line with DBe but £120m higher than cons." Shares of Virgin Media were at $27.86 in Wednesday after hours trading, down 0.14% from Wednesday's market close.