Financial Performance - Liberty Broadband reported revenue of $262 million for the three months ended September 30, 2024, compared to $240 million for the same period in 2023, representing an increase of approximately 9.2%[26]. - Adjusted OIBDA for Liberty Broadband was $93 million in Q3 2024, up from $85 million in Q3 2023, reflecting a growth of about 9.4%[22]. - The operating income for Liberty Broadband increased to $30 million in Q3 2024 from $21 million in Q3 2023, marking a rise of approximately 42.9%[26]. - Net earnings attributable to Liberty Broadband shareholders were $142 million in Q3 2024, down from $162 million in Q3 2023, indicating a decrease of about 12.3%[26]. - GCI's revenue increased by 9% year-over-year to $262 million in Q3 2024, with operating income rising 40% to $42 million[10]. - 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]. 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]. - 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]. - Cash and cash equivalents at Liberty Broadband were $168 million as of September 30, 2024, compared to $158 million at the end of 2023, reflecting an increase of about 6.3%[24]. - Liberty Broadband's long-term debt was $3.709 billion as of September 30, 2024, slightly down from $3.733 billion at the end of 2023[24]. Investments and Shareholder Returns - Liberty Broadband reported a fair value of its investment in Charter at $14.8 billion as of September 30, 2024[1]. - Liberty Broadband received $74 million from the sale of 225,000 Charter shares, maintaining a 26% fully diluted equity interest in Charter[1][3]. - Liberty Broadband has approximately $1.7 billion remaining in its stock repurchase authorization as of October 31, 2024[2]. - Liberty Broadband's stock repurchases amounted to $89 million in the nine months ended September 30, 2024, compared to $40 million in the same period of 2023[28]. Asset Growth - The total assets of Liberty Broadband increased to $16.303 billion as of September 30, 2024, compared to $15.641 billion at the end of 2023, showing a growth of approximately 4.2%[24]. - The company’s equity increased to $9.538 billion as of September 30, 2024, from $9.023 billion at the end of 2023, representing a growth of approximately 5.7%[24]. Capital Expenditures - GCI's capital expenditures for Q3 2024 were $39 million, with full-year expectations around $200 million focused on network improvements in rural Alaska[12]. Operating Activities - The company reported a net cash provided by operating activities of $103 million for the nine months ended September 30, 2024, compared to a net cash used of $46 million for the same period in 2023[28].
Liberty Broadband(LBRDK) - 2024 Q3 - Quarterly Results