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Liberty Broadband Corporation (LBRDA+0.33%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $262 million from $240 million in the same quarter the previous year. This increase is attributed to higher sales in the business data segment.
Operating income for the quarter was $30 million, up from $21 million in the previous year, with the increase driven by improved performance at GCI Holdings.
Adjusted OIBDA for the quarter was $93 million, compared to $85 million in the previous year, reflecting an increase in operating efficiency.
Interest expense decreased to $46 million from $54 million, due to lower amounts outstanding on the Margin Loan Facility.
Liberty Broadband reported a share of earnings from its affiliate, Charter Communications (CHTR+0.23%), of $346 million, up from $326 million in the previous year.
The company recorded a net income of $142 million for the quarter, compared to $162 million in the previous year.
Cash provided by operating activities was $103 million, while cash used in investing and financing activities was $69 million and $174 million, respectively.
Liberty Broadband had cash and cash equivalents of $168 million as of September 30, 2024. The company expects Charter Repurchases to be a primary source of liquidity in future periods.
The filing also details various financial agreements, including the Margin Loan Facility and the issuance of 3.125% Exchangeable Senior Debentures due 2054.
Liberty Broadband does not anticipate any significant changes in its operations or financial condition in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Liberty Broadband Corporation Class A Common Stock quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.