Liberty Broadband(LBRDA) - 2024 Q3 - Quarterly Results

Financial Performance - Liberty Broadband reported a fair value of its investment in Charter at $14.8 billion as of September 30, 2024[1]. - GCI's revenue increased by 9% year-over-year to $262 million in Q3 2024, with operating income rising 40% to $42 million[10]. - Liberty Broadband's revenue for the three months ended September 30, 2024, was $262 million, an increase from $240 million in the same period of 2023, representing an 9.2% growth[26]. - Adjusted OIBDA for Liberty Broadband increased to $93 million in Q3 2024 from $85 million in Q3 2023, reflecting a growth of 9.4%[22]. - GCI Holdings' Adjusted OIBDA rose to $100 million in Q3 2024, up from $89 million in Q3 2023, marking an increase of 12.4%[20]. - Net earnings attributable to Liberty Broadband shareholders for Q3 2024 were $142 million, compared to $162 million in Q3 2023, indicating a decrease of 12.3%[26]. - Liberty Broadband's operating income for Q3 2024 was $30 million, up from $21 million in Q3 2023, representing a growth of 42.9%[26]. Cash and Debt Management - Total cash for Liberty Broadband increased by $95 million in Q3 2024, primarily due to proceeds from Charter share sales[7]. - Liberty Broadband's total debt remained relatively flat at $3.725 billion as of September 30, 2024[8]. - Liberty Broadband's long-term debt as of September 30, 2024, was $3.709 billion, slightly down from $3.733 billion at the end of 2023[24]. - The company incurred interest expense of $46 million in Q3 2024, down from $54 million in Q3 2023, a decrease of 14.8%[26]. Equity and Assets - Liberty Broadband has approximately $1.7 billion remaining in its stock repurchase authorization as of October 31, 2024[2]. - Total assets for Liberty Broadband as of September 30, 2024, were $16.303 billion, up from $15.641 billion at the end of 2023, reflecting a growth of 4.2%[24]. - The company reported a total stockholders' equity of $9.520 billion as of September 30, 2024, compared to $9.003 billion at the end of 2023, an increase of 5.7%[25]. GCI Specifics - Adjusted OIBDA for GCI grew 12% to $100 million, reflecting a margin increase of 110 basis points to 38.2%[10]. - Consumer revenue for GCI increased by 2% to $116 million, while business revenue surged 16% to $146 million[10]. - GCI's capital expenditures for Q3 2024 were $39 million, focused on improvements to wireless and data networks in rural Alaska[12]. - GCI's leverage ratio was reported at 3.1x as of September 30, 2024, with undrawn capacity of $367 million in its credit facility[8]. Share Transactions - Liberty Broadband received $74 million from the sale of 225,000 Charter shares, maintaining a 26% fully diluted equity interest in Charter[1][3].