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Jun 30, 2020
Liberty Global Q2 2020 Earnings Report
Reported Q2 2020 financial results.
Key Takeaways
Liberty Global reported Q2 2020 results, with revenue declining 4.5% year-over-year but Adjusted EBITDA remaining effectively flat. The company reaffirmed its full-year guidance metrics and repurchased over $750 million of stock through July.
Q2 revenue declined 4.5%; rebased revenue decreased 4.3%
Q2 loss from continuing operations increased 48% YoY to $503.8 million
Q2 Adjusted EBITDA down 0.2% on a reported basis and 0.4% on a rebased basis to $1,188.5 million
Repurchased approximately $750 million of stock through July 31, 2020
Forward Guidance
Liberty Global reaffirmed all of its original full-year guidance metrics, indicating confidence despite uncertainty regarding the medium-term impact from the COVID-19 crisis.
Positive Outlook
- Expected progress on the announced U.K. joint venture with Telefonica.
- Continued network resiliency amidst the COVID-19 usage surge.
- Financial performance and related full year guidance metrics.
- Share repurchase plan.
- Strength of balance sheet, tenor of third-party debt and anticipated borrowing capacity.
Challenges Ahead
- Continued use by subscribers and potential subscribers of our and our affiliates’ services and their willingness to upgrade to our more advanced offerings.
- Our and our affiliates’ ability to meet challenges from competition, to manage rapid technological change or to maintain or increase rates to subscribers or to pass through increased costs to subscribers.
- The potential impact of the outbreak of COVID-19 on our company.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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