Liberty Global Reports Q3 2026 Results
Liberty Global reported Q3 2026 consolidated revenue of $1.92 billion, up 59.1% as reported on the VodafoneZiggo consolidation but up only 1.0% rebased, with consolidated net earnings of $547.7 million versus a loss a year earlier. Underlying trends were mixed: rebased consolidated Adjusted EBITDA fell 13.7% YoY, VMO2 revenue declined 5.0% on UK competitive pressure, while VodafoneZiggo returned to revenue growth and Telenet posted its sixth straight quarter of broadband net adds. VMO2 outlined a strategic plan targeting £800 million of run-rate cost reductions by 2029, including a 30% people-cost cut, and will halt its own fiber upgrade plan while continuing to support nexfibre.
Key figures
- Guidance
- 2026: expects ~$1.8B corporate cash at year-end with a further $100M of buybacks in Q4; VMO2 confirmed IFRS guidance (service revenue -3 to -5%, Adj. EBITDA -3 to -5%, P&E additions £2.0-£2.2B, Adj. FCF around £200m); VodafoneZiggo confirmed 2026 guidance; Telenet confirmed 2026 guidance
- Revenue Yoy
- 59.1% reported / 1.0% rebased (total consolidated Q3)
- Buybacks q3
- $100m
- Wyre revenue
- $193.8 million
- Corporate cash
- ~$2.0B
- Adjusted fcf q3
- 81700000
- Net earnings q3
- 547700000
- Vmo2 revenue yoy
- -5.0% reported / -5.7% rebased
- Vmo2 revenue gaap
- $3,262.7 million
- Vm ireland revenue
- $118.6 million
- Ziggo group revenue
- $1,906.5 million
- Towers sale proceeds
- €669m (16.2x 2025 EBITDA)
- Ziggo spinoff timing
- Q2 2027
- Ziggo group revenue yoy
- -1.9% reported / +1.4% rebased
- Vmo2 adjusted ebitda gaap
- $1,207.8 million
- Vmo2 cost reduction target
- £800 million run-rate by 2029
- Adjusted ebitda yoy rebased
- -13.7%
- Ziggo group adjusted ebitda
- $674.8 million
- Adjusted ebitda yoy reported
- +79.1%
- Consolidated adjusted ebitda
- 602600000
- Total debt and finance leases
- $21.8 billion
AI analysis
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