Liberty Global reports Q2 adjusted EBITDA $601.4M vs $649.8M last year

Reports Q2 revenue $1.848B vs $1.754B last year. CEO Mike Fries stated, “We saw improved sequential Adjusted EBITDA performance in Q2, underpinning the confirmation of all full-year guidance targets across our core FMC operations. Demand for reliable high-speed connectivity remains strong and despite communicating price adjustments across our footprint, we delivered broadly stable aggregate1 net adds in the second quarter. Looking forward to H2, these price adjustments should increasingly help to offset anticipated headwinds from energy and labor costs currently affecting our FMC businesses. Despite tough macro conditions, we continue to invest heavily in future-proofing our fixed and mobile networks and position ourselves for long-term value creation. Given our ample liquidity4 at Q2, as well as confidence in our 2023 distributable cash flow outlook, we are announcing an increase of our share repurchase program to a minimum of 15% of shares outstanding from 10% previously.