Earnings Releases·Nov 3, 2026, 8:36 AM ET

Liberty Global — Q3 2026 Earnings Summary

Consolidated revenue rose 59.1% year-over-year to $1,920.6 million, while net earnings swung to a $547.7 million profit from a $83.4 million loss in the prior year; Adjusted EBITDA increased 79.1% to $602.6 million, though rebased metrics showed declines of 1.0% (revenue) and 13.7% (EBITDA).
The company confirmed a 2026 corporate cash balance of approximately $1.8 billion and completed $100 million in share buybacks in Q3, with an additional $100 million planned for Q4.
Strategic progress includes the Ziggo Group spin-off remaining on track for Q2 2027, a €669 million agreement to sell VodafoneZiggo mobile towers for deleveraging, and VMO2's commitment to £800 million in run-rate cost reductions by 2029.
Segment performance varied significantly: Ziggo reported 1.4% rebased revenue growth and launched 8Gbps DOCSIS 4.0, while Virgin Media O2 and Wyre faced rebased revenue declines of 5.7% and 2.1% respectively amidst intense UK competition and higher maintenance costs.
2026 guidance for Virgin Media O2 and VodafoneZiggo projects service revenue and Adjusted EBITDA declines ranging from 3% to 5% and mid- to high-single digits, respectively, with VMO2 targeting £200 million in Adjusted Free Cash Flow.