Financial Performance - GCI Holdings reported revenue of $245 million for Q1 2024, a decrease of $1 million compared to Q1 2023[129] - Consolidated operating income improved by $12 million to $28 million for Q1 2024, with GCI Holdings' operating income increasing by $8 million[131] - Adjusted OIBDA for Q1 2024 was $85 million, up $3 million from $82 million in Q1 2023[135] - GCI Holdings' Adjusted OIBDA remained stable at $90 million for Q1 2024 compared to Q1 2023[130] - GCI Holdings' total revenue was $245 million for the three months ended March 31, 2024, slightly down from $246 million in the prior year[165] - GCI Holdings' consumer data revenue increased by $1 million to $60 million for the three months ended March 31, 2024, compared to $59 million in the prior year[165] - GCI Holdings' operating income improved to $37 million for the three months ended March 31, 2024, up from $29 million in the prior year[164] - Charter's revenue increased by $26 million to $13,679 million for the three months ended March 31, 2024, compared to $13,653 million in the prior year, driven by growth in residential mobile service and Internet revenue[141] - Adjusted OIBDA rose by $195 million to $5,535 million for the three months ended March 31, 2024, compared to $5,340 million in the prior year[143] - Net income increased by $97 million to $1,280 million for the three months ended March 31, 2024, compared to $1,183 million in the prior year[141] Operating Expenses - Operating expenses, excluding stock-based compensation, decreased by $169 million to $8,144 million for the three months ended March 31, 2024, compared to $8,313 million in the prior year, primarily due to lower programming costs[142] - Other expenses, net increased by $36 million to $1,405 million for the three months ended March 31, 2024, primarily due to increased interest expense[144] - Income tax expense rose by $72 million to $446 million for the three months ended March 31, 2024, compared to $374 million in the prior year, driven by higher pretax income[145] - Operating expenses remained flat for the three months ended March 31, 2024, compared to the prior year period[170] - Selling, general and administrative expenses decreased by $1 million for the three months ended March 31, 2024, primarily due to reduced lease expenses from modifications made in 2023[170] - Depreciation and amortization decreased by $8 million for the three months ended March 31, 2024, as certain fixed and intangible assets became fully depreciated during 2023[172] Debt and Interest - Interest expense increased by $6 million to $51 million in Q1 2024 due to higher interest rates and increased amounts on the Margin Loan Facility[138] - As of March 31, 2024, variable rate debt amounted to $1,819 million with a weighted average interest rate of 7.3%[175] - Fixed rate debt totaled $1,865 million with a weighted average interest rate of 4.8%[175] - The company is exposed to market risk from adverse changes in stock prices and interest rates, which could impact future earnings[173] - Interest rate risk is managed by maintaining a mix of fixed and variable rate debt, with strategies including issuing fixed rate debt and entering into interest rate swap arrangements[174] Market and Economic Conditions - Charter lost 72,000 Internet customers in Q1 2024 but added 486,000 mobile lines, attributed to the Spectrum One offering[124] - Charter expects government subsidies for 5.0 million ACP customers to run out in May 2024, potentially impacting customer net gains and revenue[125] - The Alaska economy's dependence on the oil industry poses risks to GCI Holdings' business amid potential recessionary pressures[119] - Charter's network evolution initiative is progressing, with upgrades to deliver symmetrical and multi-gigabit speeds across its footprint[126] - Charter spent $427 million on its subsidized rural construction initiative in Q1 2024, activating approximately 73,000 subsidized rural passings[126] Cash and Investments - Liberty Broadband had a cash and cash equivalents balance of $108 million as of March 31, 2024[155] - The investment in Charter, an equity method affiliate, is publicly traded and subject to market risk not reflected in the financial statements[175]

Ownership and Investments - Liberty Broadband owns approximately 46.3 million shares of Charter Class A common stock, representing an approximate 31.9% economic ownership interest in Charter's issued and outstanding shares [418]. Financial Performance - Revenue for Charter increased by $585 million to $54,607 million for the year ended December 31, 2023, primarily driven by growth in residential Internet revenue and mobile device sales [465]. - Operating income for Charter improved by $597 million to $12,559 million for the year ended December 31, 2023, compared to the previous year [465]. - Adjusted OIBDA for Charter increased by $612 million to $21,947 million for the year ended December 31, 2023 [469]. - GCI Holdings reported total revenue of $981 million for the year ended December 31, 2023, an increase of 1.2% compared to $969 million in 2022 [514]. - Operating income increased significantly to $117 million in 2023, compared to $54 million in 2022 [514]. - Net earnings decreased to $688 million in 2023 from $1.3 billion in 2022, reflecting fluctuations in revenue and expenses [479]. Customer Growth and Services - Charter serves more than 32 million customers across 41 states, providing a full range of broadband services [418]. - Charter added 2,474,000 mobile lines and 155,000 Internet customers during the year ended December 31, 2023 [446]. - GCI Holdings' cable modem subscribers reached 159,700 as of December 31, 2023, up from 157,200 in 2022 [512]. - Wireless lines in service increased to 197,300 in 2023, compared to 191,100 in 2022 [512]. Expenses and Liabilities - Operating expenses, excluding stock-based compensation, decreased by $27 million to $32,660 million for the year ended December 31, 2023 [466]. - Other expenses increased by $1.2 billion in 2023 compared to 2022, primarily due to higher interest expenses and increased pension costs [470]. - GCI Holdings recorded an estimated liability of $27 million related to compliance issues with the Rural Health Care Program, including a $15 million settlement expense in 2022 [438]. - GCI Holdings entered into a settlement agreement with the FCC and DOJ, resulting in a total cash payment of $41 million in 2023 [441]. Cash Flow and Financial Position - Cash flow from operating activities improved to $16 million in 2023 from $(56) million in 2022, driven by increased operating income [483]. - Cash balance as of December 31, 2023, was $158 million [482]. - Net cash used in financing activities was $(390) million in 2023, primarily for repurchasing exchangeable senior debentures [487]. - Total material cash requirements amount to $6.163 billion, with $3.724 billion in debt due [491]. Market and Economic Conditions - The company faces challenges from inflationary pressures, particularly in materials and labor costs, which could impact margins [426]. - GCI Holdings' business growth is heavily influenced by economic conditions in Alaska, particularly the oil industry [422]. - The company has experienced a reduction in support payments from the Rural Health Care Program by approximately $28 million due to FCC rate adjustments [428]. Other Financial Metrics - Interest expense increased by $73 million to $206 million during the year ended December 31, 2023, due to higher interest rates on variable rate debt [460]. - Share of earnings from affiliates decreased by $171 million to $1,155 million during the year ended December 31, 2023 [463]. - Income tax expense remained constant at $1.6 billion for both 2023 and 2022 [471]. - Realized and unrealized losses on financial instruments totaled $(101) million in 2023, a decrease from $334 million in 2022, mainly due to market factors [473]. - Selling, general and administrative expenses increased by $14 million to $375 million in 2023, mainly due to higher labor costs and software contracts [522]. - Depreciation and amortization expenses decreased by $32 million to $230 million in 2023, attributed to certain assets becoming fully depreciated [524]. - The loss on dilution of investment in affiliates decreased by $3 million in 2023 compared to 2022, attributed to fewer stock options exercised [472].

Financial Data and Key Metrics Changes - Liberty Broadband reported consolidated cash and cash equivalents of $158 million, including $79 million at GCI, and a total principal amount of debt of $3.8 billion, excluding preferred stock [19] - The value of the Charter investment was $13.5 billion based on shares held as of February 1 [19] - GCI's revenue and adjusted OIBDA grew 1% to $931 million and $361 million respectively for the full year [23] Business Line Data and Key Metrics Changes - GCI added 1,400 consumer cable modem subscribers and 4,800 consumer wireless customers in 2023 [24] - GCI's revenue in Q4 was flat, and adjusted OIBDA decreased by 1%, primarily due to increased costs in SG&A [23] Market Data and Key Metrics Changes - Charter added 2.5 million mobile line net ads during 2023, representing nearly 50% growth over the prior year [12] - The rural expansion at Charter exceeded penetration, ARPU, and ROI targets, with network upgrades at about $100 per passing [13] Company Strategy and Development Direction - Liberty Broadband plans to resume buybacks of LBRD shares once it exceeds the 26% ownership cap [5] - The company is optimistic about strategic investments made by Charter, which are expected to generate excellent returns and accelerate growth [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged near-term headwinds impacting broadband unit growth due to increased competition and the delayed impact from the Disney dispute [10] - There is a belief that bandwidth demands will continue to increase, favoring higher speeds and impacting fixed wireless operators negatively over time [11] Other Important Information - Liberty TripAdvisor had strong operating results in 2023, with Q4 revenue up 10% year-over-year and improved marketing efficiencies [15] - The diversification of revenue at TripAdvisor has significantly increased, with Viator and TheFork accounting for nearly 50% of 2023 revenue [16] Q&A Session Summary Question: Expectations on the ACP program and implications for GCI and Charter - Management expressed uncertainty about the renewal of the ACP program but noted significant support among congressmen, suggesting a positive outlook [31] - GCI expects minimal impact from ACP discontinuance, with a slight increase in bad debt anticipated [35] Question: Long-term interest in Charter and share buyback strategy - Management indicated that current pricing does not change the interest in selling shares into Charter's buyback, as they prefer to use proceeds for LBRD repurchases [38] Question: Antitrust implications of new streaming bundles - Management acknowledged uncertainty regarding antitrust implications but viewed potential opportunities in distributing new bundles positively [44] Question: CapEx comparison and tax rate guidance - Management confirmed that the $200 million CapEx for 2024 is comparable to the $216 million spent in 2023 [51] Question: Fixed wireless competitiveness over time - Management believes fixed wireless will become less competitive as bandwidth demands grow, with T-Mobile already increasing prices for FWA [74]

Liberty Broadband Corporation (NASDAQ:LBRDK) Q3 2023 Earnings Conference Call November 3, 2023 11:15 AM ET Company Participants Shane Kleinstein - VP, IR Greg Maffei - President & CEO Brian Wendling - Chief Accounting & Principal Financial Officer Ron Duncan - CEO, GCI Pete Pounds - CFO, GCI Conference Call Participants Kutgun Maral - Evercore ISI Ben Swinburne - Morgan Stanley Michael Rollins - Citi Operator Welcome to the Liberty Broadband 2023 Third Quarter Earnings Call. During the presentation, all par ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36713 (Exact name of Registrant as specified in its charter) State of Delaware 47-1211994 (State or other jurisdicti ...

Liberty Broadband Corporation (NASDAQ:LBRDK) Q2 2023 Earnings Conference Call August 4, 2023 11:15 AM ET Company Participants Shane Kleinstein - Vice President, Investor Relations Greg Maffei - President and CEO Brian Wendling - Chief Accounting Officer and Principal Financial Officer Ron Duncan - Chief Executive Officer, GCI Pete Pounds - Chief Financial Officer, GCI Conference Call Participants Michael Rollins - Citi Operator Welcome to the Liberty Broadband 2023 Q2 Earnings Call. During the presentation, ...

WASHINGTON, D. C. 20549 FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36713 LIBERTY BROADBAND CORPORATION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of Registrant as specified in its charter) For the quarterly period ended June 30, 2023 OR State of Delaware 47-1211994 ( ...

Liberty Broadband Corporation. (NASDAQ:LBRDK) Q1 2023 Earnings Conference Call May 2, 2023 4:30 PM ET Company Participants Shane Kleinstein - VP, IR Greg Maffei - President and Chief Executive Officer Brian Wendling - Chief Accounting & Principal Financial Officer Ben Oren - Executive Vice President & Treasurer-Liberty Media Corporation Ron Duncan - CEO, GCI Pete Pounds - CFO, GCI Albert Rosenthaler - Chief Corporate Development Officer at Liberty Media Conference Call Participants Barton Crockett - Rosenbl ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36713 LIBERTY BROADBAND CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware 47-1211994 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36713 LIBERTY BROADBAND CORPORATION (Exact name of Registrant as specified in its charter) State of Delaware (State or other ...