10 Firms Battered by Poor Earnings, Dismal Outlook

5. Liberty Global Ltd. (NASDAQ:LBTYA)

Liberty Global declined for a third day on Friday, losing 11.4 percent to finish at $9.64 apiece as investors soured on its dismal earnings performance in the past quarter.

In a statement, Liberty Global Ltd. (NASDAQ:LBTYA) said it swung to a loss from continuing operations of $1.3 billion from a $634.5 million income in the same period last year.

Revenues, however, rose by 7.3 percent to $1.17 billion from $1.09 billion in the same comparable period.

“Across the group, our clear focus on unlocking shareholder value remains, as we resumed buybacks during the quarter towards our ‘up to 10% of shares’ target for 2025,” Liberty Global Ltd. (NASDAQ:LBTYA) CEO Mike Fries said.

“Our guidance at the Liberty Global corporate level remains unchanged, as does the guidance for all of our Liberty Telecom operations with the exception of VodafoneZiggo, where we have revised guidance to align with management’s new long-term growth strategy,” he added.