NASDAQ$LBRDA
Liberty Broadband Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Liberty Broadband's financial performance remained consistent in Q4 2023, with strategic investments in Charter and GCI yielding mixed results.
Liberty Broadband reported fourth quarter and year-end 2023 results, with a fair value of Charter investment at $18.0 billion as of December 31, 2023. GCI's revenue remained flat in Q4 but grew 1% for the full year. Liberty Broadband repurchased 3.2 million LBRDK shares from November 1, 2023, through January 31, 2024, for $255 million.
- Fair value of Charter investment reached $18.0 billion by the end of 2023.
- Liberty Broadband executed strategic sale of Charter shares, generating $385 million in proceeds.
- Share repurchase program continued with 3.2 million LBRDK shares bought back for $255 million.
- GCI's revenue remained flat in Q4 but grew 1% for the full year.
Headline financials
Revenue & EPS history
Liberty Broadband · Revenue · Quarterly
$250M
Revenue by segment
Liberty Broadband · $240M total across 1 segment · Q3 2023
- GCI Holdings$240M-3.2%100.0%
Forward guidance
GCI’s net capital expenditures for 2024 are expected to be approximately $200 million related to additional high-returning 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.
Tailwinds
- Liberty Broadband maintained a fully diluted equity interest in Charter of 26%.
- GCI produced another year of solid financial results.
- GCI continues to expand and upgrade its fiber network across Alaska.
- Liberty Broadband cash increased $70 million in the fourth quarter as proceeds from Charter share sales more than offset share repurchases in the period and debt reduction.
- GCI cash increased $41 million in the fourth quarter as cash from operations more than offset capital expenditures.
Headwinds
- Challenging environment impacted Charter.
- Adjusted OIBDA decreased 1% in the fourth quarter.
- Total Liberty Broadband debt increased to $3,810.
- Consumer revenue decreased 3% for GCI
- Other revenue decreased 23% for GCI Consumer
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.8%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-0.9%
Avg return
30 days after
65%
33 / 51 earnings
Positive
+8.9%
Q3 2020
Best reaction
-6.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | -1.4% | -15.0% | |
| Q3 2025 | +2.1% | -4.4% | -6.8% | |
| Q1 2025 | +0.1% | -0.1% | +1.2% | |
| Q4 2024 | +2.1% | +5.5% | +8.0% | |
| Q3 2024 | -3.4% | -3.5% | -14.8% | |
| Q2 2024 | +1.1% | -0.9% | -5.5% | |
| Q1 2024 | -1.0% | +1.8% | -0.4% | |
| Q4 2023 | +1.4% | -1.3% | -5.6% | |
| Q3 2023 | -1.0% | -1.7% | -1.8% | |
| Q2 2023 | -1.1% | -1.0% | -1.4% | |
| Q1 2023 | -3.3% | -4.8% | -11.1% | |
| Q4 2022 | -6.1% | -4.8% | -16.4% | |
| Q3 2022 | +1.3% | +0.1% | +12.6% | |
| Q2 2022 | +3.0% | +2.0% | -12.9% | |
| Q1 2022 | +1.2% | -1.6% | +7.7% | |
| Q4 2021 | +2.4% | -4.2% | -5.5% | |
| Q3 2021 | +0.0% | +0.4% | -6.3% | |
| Q2 2021 | -1.3% | -0.3% | +4.6% | |
| Q1 2021 | +2.2% | +0.4% | +0.5% | |
| Q4 2020 | +5.0% | +3.3% | +5.4% | |
| Q3 2020 | +8.9% | +4.4% | +15.9% | |
| Q2 2020 | -2.8% | -2.7% | -3.8% | |
| Q1 2020 | +2.8% | -0.1% | +8.7% | |
| Q4 2019 | -2.7% | -4.2% | -18.0% | |
| Q3 2019 | +0.2% | +0.4% | +1.6% | |
| Q2 2019 | +1.2% | +1.0% | +11.8% | |
| Q1 2019 | +0.8% | -1.4% | +2.6% | |
| Q4 2018 | -2.8% | -2.3% | -1.1% | |
| Q3 2018 | -2.6% | -2.0% | -4.1% | |
| Q2 2018 | +1.6% | +0.4% | +3.9% | |
| Q1 2018 | -1.5% | +1.7% | -4.6% | |
| Q4 2017 | -1.7% | +0.3% | -3.0% | |
| Q3 2017 | +0.7% | -0.3% | -3.8% | |
| Q2 2017 | -0.7% | -1.8% | +1.1% | |
| Q1 2017 | -0.4% | -1.2% | +3.3% | |
| Q4 2016 | +0.4% | -0.0% | -0.5% | |
| Q3 2016 | +4.7% | +4.8% | +9.2% | |
| Q2 2016 | -1.5% | +3.6% | +11.8% | |
| Q1 2016 | +1.9% | — | — | |
| Q2 2015 | +4.6% | — | — | |
| Q4 2015 | +4.6% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q4 2014 | +4.4% | — | — | |
| Q2 2013 | +4.4% | — | — | |
| Q1 2013 | +4.4% | — | — | |
| Q3 2014 | +0.7% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | +0.7% | — | — |
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