Liberty Broadband Corporation · Q2 2021 earnings

Briefing

Liberty Broadband reported mixed results for Q2 2021. GCI's revenue increased, driven by strong demand for data.

Liberty Broadband reported second quarter 2021 results, with GCI growing revenue by 7% to $238 million. The company repurchased 7.5 million LBRDK shares for $1.3 billion and increased the repurchase authorization to $2.5 billion.

• Fair value of Charter investment was $41 billion as of June 30th
• Liberty Broadband received $1.1 billion of proceeds from sale of 1.6 million Charter shares to Charter and maintained a fully diluted equity interest in Charter of 26%
• Liberty Broadband repurchased 7.5 million LBRDK shares at an average price per share of $167.17 for total cash consideration of $1.3 billion
• GCI grew revenue 7% to $238 million, generated operating income of $18 million and increased adjusted OIBDA 14% to $89 million

Headline financials

Revenue & EPS history

This press release includes certain forward-looking statements under the Private Securities Litigation Reform Act of 1995, including statements about business strategies, market potential, future financial prospects, matters relating to Liberty Broadband’s equity interest in Charter and Charter’s buyback of common stock, Liberty Broadband’s participation in Charter’s buyback of common stock, indemnification by Liberty Broadband, the continuation of our stock repurchase program and other matters that are not historical facts.