- Liberty Global press release ( NASDAQ: LBTYA ): Q2 earnings from continuing operations decreased 79.5% Y/Y on a reported basis to $2,282.2M.
- Revenue of $1.75B (-41.5% Y/Y) misses by $10M .
- Stock buyback accelerating with announcement to increase 2022 program by $400M to ~$1.7B.
-
"We are reiterating all of our original, full-year guidance metrics, including $1.7B of Full Company Distributable Cash Flow. This will be supported through significant adjusted free cash flow creation at Vodafone Ziggo and VMO2 and arranged financings. Liberty Global’s balance sheet remains strong with ~$4B of cash and ~$6B of total liquidity. As of today, we have substantially completed our annual buyback commitment of 10% of our shares outstanding. Given our strong cash flow generation and the compelling value in our stock at current prices, we are announcing today an increase to our 2022 buyback program of $400M, bringing the total for the year to ~$1.7B.”
For further details see:
Liberty Global reports Q2 results