Liberty Broadband Q2 2024 Earnings Report
Key Takeaways
Liberty Broadband reported second quarter 2024 results with flat revenue at $246 million. Operating income decreased to $21 million. The fair value of Charter investment was $13.7 billion as of June 30th. Liberty Broadband sold 270 thousand shares of Charter Class A common stock to Charter for total proceeds of $74 million.
Fair value of Charter investment was $13.7 billion as of June 30th.
Issued $860 million aggregate principal amount of 3.125% exchangeable senior debentures due 2054 on July 2nd.
From May 1, 2024 through July 31, 2024, Liberty Broadband received $74 million of proceeds from sale of 270 thousand Charter shares to Charter.
Maintained fully diluted equity interest in Charter of 26%.
Liberty Broadband
Liberty Broadband
Liberty Broadband Revenue by Segment
Forward Guidance
GCI's net capital expenditures for the full year 2024 are expected to be approximately $200 million related to additional high-returning investments.
Positive Outlook
- Additional high-returning investments in middle and last mile connectivity.
- Continued network expansion in GCI’s most important markets in rural Alaska.
- Bethel fiber projects.
- AU-Aleutians fiber projects.
- GCI’s credit facility has undrawn capacity of $347 million (net of letters of credit).
Challenges Ahead
- Possible changes in market acceptance of new products or services.
- Competitive issues.
- Regulatory matters affecting our businesses.
- Continued access to capital on terms acceptable to Liberty Broadband.
- General market conditions (including as a result of inflationary pressures).