Thu, Nov 7, 6:37 PM (254 days ago)
Liberty Broadband Corporation (LBRDA) reported a strong quarterly performance for Q3 2024, with revenue increasing to $262 million from $240 million in Q3 2023, primarily driven by GCI Holdings. Operating income rose to $30 million from $21 million year-over-year. Adjusted OIBDA also improved to $93 million, reflecting operational strength. The company's net earnings for the quarter were $142 million, down slightly from $162 million, attributed to increased unrealized losses on financial instruments. Cash flow from operating activities was positive at $103 million, contrasting with a negative cash flow of $46 million in the prior year. The total assets increased to $16.3 billion, with cash and equivalents at $168 million. The company continues to manage significant debt levels effectively, with total long-term debt slightly decreasing to $3.7 billion. Liberty Broadband's investment in Charter Communications remains a key focus, with its market value at approximately $14.8 billion, despite challenges like customer losses in the internet segment. Future operations may be influenced by regulatory changes and market conditions, particularly concerning the Universal Service Fund. Overall, the company is navigating a complex economic landscape while maintaining a solid financial position.