Welcome to our dedicated page for Liberty Broadband news (Ticker: LBRDK), a resource for investors and traders seeking the latest updates and insights on Liberty Broadband stock.
Liberty Broadband Corp. operates as a holding company, engaging in cable, broadband, and mobile location technology businesses. It serves the telecommunications industry in the United States, providing cable services to residential and small to medium businesses. The company's services include video, internet, voice, and mobile services for residential customers, as well as commercial solutions, advertising services, and more. With reportable segments like GCI Holdings and Charter, Liberty Broadband generates most of its revenue from GCI Holdings.
The Native Village of Port Lions, in collaboration with GCI, has secured a $29.3 million grant from the National Telecommunications and Information Administration (NTIA). This funding will support the construction of a subsea fiber network, enabling 2 gig residential internet speeds for six Alaska communities including Chignik Lagoon and Cold Bay. This initiative aims to bridge the digital divide, facilitating access to jobs, healthcare, and education in remote areas. The project is part of NTIA's broader $1 billion investment in tribal broadband initiatives.
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) announced a quarterly cash dividend of $0.43750001 per share for its Series A Cumulative Redeemable Preferred Stock (Nasdaq: LBRDP). The dividend is payable on October 17, 2022, to shareholders on record as of September 30, 2022. Liberty Broadband owns interests in various communications businesses, primarily in Charter Communications and GCI, Alaska's largest communications provider, which has been operational for 40 years.
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) reported its Q2 2022 results, showing a fair value of its Charter investment at $23.5 billion. The company generated $1.1 billion from selling 2.2 million Charter shares while maintaining a 26% equity interest. GCI's revenue remained flat at $238 million, with operating income at $10 million, reflecting a 44% decline. Liberty Broadband repurchased 9 million shares for $1 billion. The company's debt decreased to $3.9 billion, and cash remained stable at $301 million as of June 30, 2022.
GCI has been recognized as Alaska's fastest internet service provider by PCMag.com for the seventh consecutive year, achieving a record PCMag Speed Index (PSI) score of 176.7. This score surpasses competitors like Cox and AT&T, which scored 143.8 and 134, respectively, and is significantly higher than Starlink's 60.5. GCI plans to offer 10 gig internet speeds in the future and currently provides 2 gig speeds to 80% of Alaskans. The company is also expanding its fiber-optic network to multiple communities.
Liberty Broadband Corporation will host a conference call on August 5, 2022, at 11:15 a.m. E.T., to discuss second-quarter results. A press release detailing these results will be issued prior to market opening. The call will include a Q&A session about the financial performance and outlook for Liberty Broadband and Liberty TripAdvisor Holdings, Inc. Attendees can register for the live broadcast on the company's website. Liberty Broadband is known for its interests in communications, particularly through Charter Communications and its subsidiary GCI.
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) announced the declaration of a quarterly cash dividend of $0.43750001 per share on its Series A Cumulative Redeemable Preferred Stock (Nasdaq: LBRDP). The dividend is payable on July 15, 2022, to shareholders of record by June 30, 2022. This announcement underscores the company's commitment to returning value to its shareholders.
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) will host its virtual Annual Meeting of Stockholders on June 14, 2022, at 8:30 a.m. MT. Stockholders of record by April 18, 2022, can participate by logging in at www.virtualshareholdermeeting.com/LBRD2022. A Q&A session will follow, featuring Chairman John Malone and CEO Greg Maffei. Questions can be submitted via email until June 7, 2022. Liberty Broadband primarily operates through its interests in Charter Communications and GCI, a leading communications provider in Alaska.
Liberty Broadband Corporation (Nasdaq: LBRDA, LBRDK, LBRDP) announced that CEO Greg Maffei will present at the MoffettNathanson Media & Communications Summit on Thursday, May 19, at 11:00 a.m. E.T. in New York City. The presentation will cover financial performance, outlook, and forward-looking matters. A live webcast will be available on the Liberty Broadband website, with an archive accessible for 180 days post-event. Liberty Broadband, primarily invested in Charter Communications and subsidiary GCI, provides comprehensive communications services in Alaska and beyond.
Liberty Broadband reported Q1 2022 results with a fair value of Charter holdings at $29 billion. The company received $753 million from selling 1.3 million Charter shares, maintaining a 26% interest. Additionally, Liberty repurchased 5.1 million shares for $719 million. GCI's revenue decreased 4% to $233 million, with operating income at $21 million and adjusted OIBDA down 9% to $87 million. Cash increased by $109 million, although total debt rose to $4.11 billion due to margin loan drawdowns. Liberty sold its Skyhook subsidiary for $170 million on May 2, 2022.
Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK, LBRDP) is set to host a conference call on May 6 at 11:15 a.m. E.T. to discuss its first-quarter results for 2022. The press release detailing these results will be available before market open on that date. Participants can join the call by dialing provided numbers or by streaming online, with replays accessible afterward. Liberty Broadband primarily owns interests in Charter Communications and operates GCI, Alaska's largest communications provider, delivering various services across challenging conditions.
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