Liberty Broadband (LBRDK, $92.42) misses Q4 earnings estimates

Liberty Broadband posted FY fourth quarter GAAP EPS of $7.96, missing the Street expectations by $0.56.

Revenue fell -1.3% from the year-ago quarter to $975 million, in-line with analysts’ expectations.

GCI's net capital expenditures for 2023 are expected to be around $185 million, on the back of increased investment in middle mile and last mile data connectivity, including network expansion in rural Alaska.

Ronald A. Duncan; Co-Founder, CEO & Director of GCI mentioned that the company benefited by ACP in Alaska, and that it led to low levels of bad debt ( 0.6% of total revenue for bad debt last year versus an industry norm and a GCI norm pre-COVID of 1.2% to 1.5%).