Liberty Global Reports 12.9% Revenue Growth in Q3 2025, Net Loss Improves

Liberty Global Ltd. reported its financial results for the third quarter and nine months ended September 30, 2025, revealing a consolidated revenue of $1.207 billion, a 12.9% increase from $1.069 billion in the same period last year. For the nine months, revenue rose to $3.647 billion, up 13.3% from $3.219 billion in 2024. The growth was attributed to the impact of the Formula E Acquisition and services provided to Sunrise, which contributed $41.1 million and $52.8 million, respectively. However, on an organic basis, revenue decreased by $17.8 million or 1.6% for the quarter and $47.0 million or 1.4% for the nine months.

The company reported a net loss attributable to Liberty Global shareholders of $90.7 million for the third quarter, a significant improvement from a loss of $1.446 billion in the same quarter of 2024. For the nine months, the loss was $4.221 billion, compared to $512.4 million in the prior year. The improved performance was driven by a reduction in non-operating expenses, which included significant foreign currency transaction losses in the previous year. Operating income for the third quarter was a loss of $8.0 million, compared to a profit of $33.4 million in 2024, while for the nine months, operating income was $82.3 million, compared to a loss of $11.9 million in the prior year.

Liberty Global's operational metrics showed a total of 11.4 million fixed-line customers and 44.9 million mobile subscribers as of September 30, 2025. The company also reported a significant increase in capital expenditures, which rose to $905.5 million for the nine months, up from $611.9 million in 2024. This increase was primarily due to higher investments in network expansion and upgrades. The company’s cash and cash equivalents stood at $1.674 billion, a decrease from $2.364 billion at the end of the previous year, reflecting cash used in investing activities.

Strategically, Liberty Global completed the Formula E Acquisition in October 2024, consolidating 100% of Formula E’s results from that date. The company also underwent a spin-off of its Swiss operations, which has been classified as discontinued operations. The spin-off was completed on November 8, 2024, and has allowed Liberty Global to focus on its core operations in Belgium, Luxembourg, and Ireland. The company continues to provide transitional services to Sunrise, generating additional revenue.

Looking ahead, Liberty Global anticipates ongoing challenges from competitive pressures and inflationary costs, particularly in programming and operational expenses. The company aims to maintain its debt levels to ensure attractive equity returns while navigating the complexities of its operational landscape. The management remains focused on enhancing customer engagement and optimizing its service offerings to drive future growth.