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Dec 31, 2024
Liberty Broadband Q4 2024 Earnings Report
Liberty Broadband's Q4 2024 financial results were reported, highlighted by the ongoing merger with Charter, progress towards spinning off GCI, and an increase in GCI revenue.
Key Takeaways
Liberty Broadband reported its Q4 2024 results, noting progress on its merger with Charter and plans to spin off GCI. GCI's revenue increased by 5% in Q4, driven by business revenue growth, while consumer revenue remained flat. Operating income increased, but Adjusted OIBDA decreased slightly.
Liberty Broadband is progressing with its merger with Charter, expecting to close on June 30, 2027, and received shareholder approval.
The company is actively working towards spinning off its GCI business in the summer of 2025.
GCI's revenue grew by 5% in Q4 2024, with business revenue increasing by 10% but consumer revenue remaining flat.
Liberty Broadband sold 541 thousand shares of Charter Class A common stock for $205 million between November 1, 2024, and January 31, 2025.
Liberty Broadband
Liberty Broadband
Liberty Broadband Revenue by Segment
Revenue by Segment
GCI Holdings Revenue
CapyFin.com Forward Guidance
GCI's net capital expenditures for 2025 are expected to be approximately $250 million related to additional investments in middle and last mile connectivity, with continued network expansion in GCI’s most important markets in rural Alaska including the Bethel and AU-Aleutians fiber projects. A significant portion of the increased capital expenditures in 2025 are related to fulfilling the build-out requirements of the Alaska Plan.
Positive Outlook
- Additional investments in middle and last mile connectivity are planned.
- Continued network expansion in GCI’s most important markets in rural Alaska is underway.
- Projects include the Bethel and AU-Aleutians fiber projects.
- Increased capital expenditures are related to fulfilling the build-out requirements of the Alaska Plan.
- Charter margin loan has $1,150 million of available capacity.
Challenges Ahead
- GCI’s net capital expenditures for 2025 are expected to be approximately $250 million.
- GCI Adjusted OIBDA decreased 4% in the fourth quarter.
- Corporate and other Adjusted OIBDA decreased from $(7) million to $(17) million.
- GCI Consumer wireless revenue decreased 2% in the fourth quarter.
- GCI Business other revenue decreased 33% in the fourth quarter.