The following is a summary of the Liberty Broadband Corporation (LBRDK) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Liberty Broadband generated a revenue of $385 million from Charter sales from November 1st to the end of January.

• The company spent $255 million on LBRD repurchases.

• TripAdvisor's Q4 revenue grew 10%, surpassing expectations, with its Viator and TheFork brands together composing nearly 50% of 2023 revenue.

• The company reported consolidated cash and cash equivalents of $158 million and a total principal amount of debt of $3.8 billion. The value of their Charter investment stood at $13.5 billion.

• GCI, a subsidiary, generated strong free cash flow and had record revenues and adjusted OIBDA for 2023. Revenue and adjusted OIBDA grew 1% to reach $931 million and $361 million, respectively.

• GCI added 1,400 consumer cable modem subscribers and 4,800 consumer wireless customers in 2023. It paid down an incremental $40 million under its revolving credit facility after year end.

Business Progress:

• Charter added 2.5 million mobile line net ads in 2023, growing nearly 50% over the prior year. It faced increased competition in fixed wireless during 2023 but expects to benefit from future increases in consumer demand for bandwidth.

• Liberty Broadband plans to resume LBRD buyback once it exceeds the fully diluted ownership cap of 26% and has been authorized by the board to engage in acquisition discussions for Liberty TripAdvisor.

• TripAdvisor reached breakeven profitability ahead of schedule and is focused on long-term strategic opportunities driven by AI.

• GCI is planning high returning investments in middle and last mile connectivity and network expansion in rural Alaska with an expected spending of approximately $200 million in net capital expenditures for 2024.

• Liberty Broadband sees growth opportunities in the wireless segment as their GCI+ offering is less expensive than competitors, which should help them gain more wireless customers.

• The discontinuance of ACP at GCI is expected to have a minimal impact on Liberty Broadband.

More details: Liberty Broadband-C IR

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