Liberty Capital Corporation, formerly known as GCI Liberty, Inc., reported its financial results for the second quarter of 2026, revealing a revenue of $261.3 million, a slight decrease from $261.5 million in the same period last year. For the first half of 2026, the company generated $517.5 million in revenue, down from $527 million in the first half of 2025. The decline in revenue was attributed to a decrease in consumer data subscribers, although the company did see an increase in wireless lines in service, which rose to 202,100 from 199,200 year-over-year.
The company's operating income for the second quarter was $29 million, a decrease from $51 million in the prior year, while net earnings fell to $16 million from $27 million. For the first half of 2026, net earnings were $34 million, down from $62 million in the same period of 2025. The decline in profitability was influenced by increased operating expenses, which rose to $137 million from $128 million in the second quarter of 2025, driven by higher costs associated with business direct services and technology expenses.
Liberty Capital has been active in strategic acquisitions, including the planned acquisition of Quintillion for $310 million, which is expected to close in the fourth quarter of 2026, pending regulatory approval. Additionally, the company acquired SPITwSPOTS, Inc. for approximately $11 million, which is anticipated to enhance its broadband service offerings. The company also reported an increase in goodwill to $648.6 million, reflecting the impact of these acquisitions.
Operationally, Liberty Capital reported a broadband subscriber count of 155,400, an increase from 153,800 a year earlier, which includes approximately 5,400 subscribers acquired from the SwS acquisition. The company continues to focus on expanding its market presence in Alaska, where it provides a range of telecommunications services. As of June 30, 2026, Liberty Capital had cash and cash equivalents of $497 million, positioning it well for future investments and operational needs.
Looking ahead, Liberty Capital anticipates challenges from economic conditions in Alaska, including inflation and potential recessionary pressures, which could impact customer demand and operational costs. The company has also adopted a dividend policy, planning to initiate quarterly cash dividends beginning in the fourth quarter of 2026, with an initial aggregate amount of approximately $60 million annually. This strategic move reflects the company's commitment to enhancing shareholder value while navigating the evolving market landscape.
About GCI Liberty, Inc.
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