--- title: "Liberty Global | 10-Q: FY2026 Q1 Revenue: USD 1.275 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/284955109.md" datetime: "2026-05-02T04:06:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284955109.md) - [en](https://longbridge.com/en/news/284955109.md) - [zh-HK](https://longbridge.com/zh-HK/news/284955109.md) --- # Liberty Global | 10-Q: FY2026 Q1 Revenue: USD 1.275 B Revenue: As of FY2026 Q1, the actual value is USD 1.275 B. EPS: As of FY2026 Q1, the actual value is USD 0.96. EBIT: As of FY2026 Q1, the actual value is USD 137.5 M. ### Consolidated Operations #### Revenue Total consolidated revenue for Liberty Global Ltd. increased by $103.4 million (8.8%) to $1,274.6 million for the three months ended March 31, 2026, compared to $1,171.2 million in 2025, including a -$57.7 million decrease attributable to dispositions, with an organic increase of $29.1 million (2.9%). Residential Fixed Subscription Revenue organically decreased by -$10.7 million (-2.6%). Residential Fixed Non-Subscription Revenue organically increased by $2.2 million (43.1%). Residential Mobile Subscription Revenue organically decreased by -$0.2 million (-0.2%). Residential Mobile Non-Subscription Revenue organically increased by $2.4 million (6.6%). B2B Subscription Revenue organically decreased by -$1.3 million (-1.3%). B2B Non-Subscription Revenue organically increased by $4.0 million (3.8%). Other Revenue organically increased by $32.7 million (8.2%). #### Operating Costs and Expenses - Programming and other direct costs of services increased by $23.2 million (5.8%) to $426.6 million for the three months ended March 31, 2026, from $403.4 million in 2025, with an organic increase of $26.0 million (7.3%). - Other operating expenses increased by $28.8 million (15.1%) to $220.0 million for the three months ended March 31, 2026, from $191.2 million in 2025, with an organic increase of $28.0 million (14.6%). - Selling, general and administrative (SG&A) expenses increased by $13.2 million (4.6%) to $298.6 million for the three months ended March 31, 2026, from $285.4 million in 2025, with an organic increase of $12.3 million (4.3%). - Depreciation and amortization increased by $32.6 million (14.0%) to $264.8 million for the three months ended March 31, 2026, from $232.2 million in 2025. - Impairment, restructuring and other operating items, net, increased to $40.8 million for the three months ended March 31, 2026, from -$1.7 million in 2025. #### Operating Income Operating income decreased to $23.8 million for the three months ended March 31, 2026, from $60.7 million in 2025. #### Net Earnings (Loss) Attributable to Liberty Global Shareholders Net earnings attributable to Liberty Global shareholders were $337.8 million for the three months ended March 31, 2026, a significant improvement from the net loss of -$1,337.3 million in 2025. #### Cash Flow - Net cash provided by operating activities decreased to $107.6 million for the three months ended March 31, 2026, from $129.2 million in 2025. - Capital expenditures, net, increased to -$397.6 million for the three months ended March 31, 2026, from -$243.3 million in 2025. - Net cash used by investing activities switched to -$223.0 million for the three months ended March 31, 2026, from $52.5 million provided in 2025. - Net cash used by financing activities increased to -$114.0 million for the three months ended March 31, 2026, from -$66.2 million in 2025. ### Segment-Specific Metrics #### Telenet - Revenue increased by $16.2 million (2.2%) to $759.4 million for the three months ended March 31, 2026, from $743.2 million in 2025, with an organic decrease of -$2.5 million (-0.4%). - Adjusted EBITDA increased by $28.1 million (18.0%) to $183.9 million, from $155.8 million in 2025, with an organic increase of $13.4 million (8.8%). - Adjusted EBITDA Margin increased to 24.2% in 2026 from 21.0% in 2025. - Property and Equipment Additions were $108.1 million in 2026, down from $130.9 million in 2025. #### Wyre - Revenue increased by $18.1 million (10.0%) to $198.9 million for the three months ended March 31, 2026, from $180.8 million in 2025, with an organic decrease of -$1.9 million (-1.0%). - Adjusted EBITDA increased by $8.5 million (5.8%) to $154.3 million, from $145.8 million in 2025, with an organic decrease of -$6.7 million (-4.6%). - Adjusted EBITDA Margin decreased to 77.6% in 2026 from 80.6% in 2025. - Property and Equipment Additions were $192.6 million in 2026, up from $115.8 million in 2025. #### VM Ireland - Revenue increased by $11.2 million (9.7%) to $127.0 million for the three months ended March 31, 2026, from $115.8 million in 2025, with an organic decrease of -$1.6 million (-1.4%). - Adjusted EBITDA increased by $1.2 million (3.2%) to $38.4 million, from $37.2 million in 2025, with an organic decrease of -$2.6 million (-7.1%). - Adjusted EBITDA Margin decreased to 30.2% in 2026 from 32.1% in 2025. - Property and Equipment Additions were $45.6 million in 2026, up from $42.9 million in 2025. #### VMO2 JV (Nonconsolidated) - Revenue increased by $96.1 million (3.1%) to $3,222.4 million for the three months ended March 31, 2026, from $3,126.3 million in 2025. - Adjusted EBITDA increased by $18.4 million (1.7%) to $1,091.8 million, from $1,073.4 million in 2025. - Adjusted EBITDA Margin decreased to 33.9% in 2026 from 34.3% in 2025. - Property and Equipment Additions were $609.5 million in 2026, up from $594.2 million in 2025. - Net Loss decreased to -$27.6 million in 2026 from -$165.8 million in 2025. #### VodafoneZiggo JV (Nonconsolidated) - Revenue increased by $96.5 million (9.2%) to $1,148.5 million for the three months ended March 31, 2026, from $1,052.0 million in 2025. - Adjusted EBITDA increased by $18.9 million (4.1%) to $482.0 million, from $463.1 million in 2025. - Adjusted EBITDA Margin decreased to 42.0% in 2026 from 44.0% in 2025. - Property and Equipment Additions were $250.0 million in 2026, up from $206.9 million in 2025. - Net Loss decreased to -$16.7 million in 2026 from -$70.5 million in 2025. ### Outlook and Strategy Liberty Global Ltd. is evaluating new accounting standards but does not foresee a significant impact on its consolidated financial statements. The company anticipates ongoing competition, macroeconomic pressures, and regulatory factors to influence its markets, potentially affecting revenue, customer numbers, and average revenue per user (ARPU). Furthermore, Liberty Global Ltd. completed the sale of UPC Slovakia in April 2026 and expects the acquisition of Vodafone’s 50% interest in VodafoneZiggo JV to close in the second half of 2026, pending regulatory approvals. ### Related Stocks - [LBTYA.US](https://longbridge.com/en/quote/LBTYA.US.md) ## Related News & Research - [Liberty Global Posts VodafoneZiggo Quarterly Results Disclosure](https://longbridge.com/en/news/286322128.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md) - [GDEV announces results for the first quarter of 2026 | GDEV Stock News](https://longbridge.com/en/news/286909689.md)