Liberty Broadband Reports First Quarter 2023 Financial Results

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty Broadband Corporation (“Liberty Broadband”) (Nasdaq: LBRDA, LBRDK, LBRDP) today reported first quarter 2023 results.

Headlines include⁽¹⁾:

Fair value of Charter investment was $16.8 billion as of March 31^st
Issued $1.3 billion aggregate principal amount of 3.125% exchangeable senior debentures due 2053 and used net proceeds and cash on hand to repurchase $1.4 billion of near-term liabilities
Liberty Broadband did not sell Charter shares to Charter from February 1^st through April 30^th as its fully diluted equity interest in Charter remained below 26%⁽²⁾
From February 1^st through April 30^th, Liberty Broadband repurchased 137 thousand LBRDA/K shares at an average price per share of $92.84 for total cash consideration of $13 million
In the first quarter, GCI⁽³⁾ increased revenue 6% to $246 million, generated $29 million in operating income and grew Adjusted OIBDA⁽⁴⁾ 3% to $90 million