0001570585-26-000070
SEC filingLiberty Global Ltd. announced Q1 2026 financial results, reporting consolidated revenue of $1,274.6 million and Adjusted EBITDA of $366.5 million, while reiterating full-year 2026 guidance targets.
Liberty Global's Q1 2026 results reflect operational progress across its Telecom segments, with CEO Mike Fries highlighting continued advancement on strategic goals including the VodafoneZiggo acquisition closing in July and planned spin-off in H2 2027. Consolidated revenue grew 8.8% reported (2.9% rebased) to $1.27B, driven by Liberty Growth (39.5% YoY) and Telecom (4.4% YoY), while Adjusted EBITDA rose 12.9% (1.4% rebased) to $366.5M. Key drivers included strong commercial execution: Telenet achieved best broadband net adds in over 10 years via cross-sell campaigns, VodafoneZiggo improved broadband trends for fourth straight quarter with stable ARPU, and Virgin Media Ireland posted positive wholesale and mobile adds. VMO2 stabilized fixed base amid competition, launching O2 Satellite for direct-to-device connectivity. Liberty Growth rotated capital, exiting partial ITV and EdgeConneX stakes for $180M proceeds, maintaining a concentrated $3.4B portfolio. Corporate efficiencies boosted Adj. EBITDA outlook 75% vs. 2024, ending Q1 with $1.9B cash. Nonconsolidated JVs showed revenue growth at VodafoneZiggo (9.2% reported) but rebased declines due to customer base and pricing pressures. Management reiterated full-year guidance, confirming VMO2 service revenue decline of 3-5%, VodafoneZiggo stable-to-low single-digit revenue drop, signaling confidence in commercial momentum and value unlock strategy.