Liberty Global reports Q4 net loss of $2.9B; guides 2026 revenue declines at VMO2 and VodafoneZiggo

Liberty Global Ltd.

2025-FY EPS reported -$20.86 vs consensus -$0.47 ▼ miss (-4350.6%)

Net loss from continuing ops of $2,916M in Q4 vs prior-year income of $2,334M; FY loss $7,097M.
Total Q4 revenue $1,231M, up 9.6% reported but down 0.5% rebased; Adj. EBITDA $278.6M, up 12.4% reported, down 0.9% rebased.
VMO2 JV 2026 guidance: service revenue decline 3-5%, Adj. EBITDA decline 3-5%; Q4 Adj. EBITDA $1,166.8M, flat rebased.
VodafoneZiggo JV 2026 guidance: stable to low-single digit revenue decline, mid-high single digit Adj. EBITDA decline; Q4 Adj. EBITDA $495.7M.
Telenet 2026 guidance: stable revenue, low-single digit Adj. EBITDAaL growth; Q4 Adj. EBITDA $305.4M, down 9.9% rebased.

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