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Liberty Global (LBTYA) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Liberty Global (LBTYA) Q3 2026 earnings results →

Q3 2026 Revenue up 59% year over year to $1.9B · 29¢ of every $1 of revenue kept as net profit · operating margin -0.9%

Liberty Global made $1.9B in Q3 2026 (+59% Y/Y): Total residential revenue $1.1B, Total B2B revenue $441M, Subscription revenue $272M. Operating margin -0.9%, net earnings $548M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$1.9B
Year over year+59%
Operating margin-0.9%
Net earnings$548M
Operating cash flow$606M

Drawing the Sankey…

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Liberty Global Q3 2026 revenue breakdown: Sankey diagram of revenue (Total residential revenue, Total B2B revenue, Subscription revenue, Fixed-line telephony), costs, profit and cash flow
Liberty Global Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.9B in Q3 2026, up 59% year over year and up 64% from the previous quarter. Broadband internet was the largest line at 20% of revenue. Video added $0.17B year over year (up 113%), 24% of the total change. Other revenue declined 4%.

Operating costs exceeded revenue by $0.02B, an operating margin of -0.9%. Total costs grew 60% against revenue growth of 59%. The fastest-growing cost line was Other operating costs (+65%). Net earnings were $0.46B.

Operating cash flow was $0.61B (up 101% year over year), 111% of net income including minority interests. Non-cash charges added back $0.53B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.53B. Capital expenditures of $0.42B left free cash flow of $0.18B.

Quarterly history

Liberty Global revenue by quarterLiberty Global revenue by quarter$1.2BQ1 2025$1.3BQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.3BQ1 2026$1.2BQ2 2026$1.9BQ3 2026
Liberty Global net earnings by quarterLiberty Global net earnings by quarter−$1.3BQ1 2025−$2.8BQ2 2025−$83.4MQ3 2025−$2.9BQ4 2025$338MQ1 2026−$358MQ2 2026$548MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$1.9B+59%-0.9%$548M$606M
Q2 202610-QJul 24, 2026$1.2B-8%0.3%−$358M$231M
Q1 202610-QMay 1, 2026$1.3B+9%1.9%$338M$108M
Q4 202510-KFeb 18, 2026$1.2B+10%-8.6%−$2.9B$631M
Q3 202510-QOct 30, 2025$1.2B+13%-0.7%−$83.4M$302M
Q2 202510-QAug 1, 2025$1.3B+20%2.3%−$2.8B$149M
Q1 202510-QMay 2, 2025$1.2B+7%5.2%−$1.3B$129M

Charts

Liberty Global: revenue growth, year over year and quarter over quarterLiberty Global: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q1 2025+20%+8%Q2 2025+13%-5%Q3 2025+10%+2%Q4 2025+9%+4%Q1 2026-8%-8%Q2 2026+59%+64%Q3 2026
Latest (Q3 2026): Y/Y +59%, Q/Q +64%.
Liberty Global: where the cash came from (+) and went (−), TTM to Q3 2026Liberty Global: where the cash came from (+) and went (−), TTM to Q3 2026Capital spending−$1.6BOperating cash flow$1.6BNet borrowing (+) / repaid (−)$1.2BAcquisitions−$1.1BOther investing$1.0BCash drawn (+) / kept (−)−$378MOther financing−$344MPartners−$225MBuybacks−$134MExchange rates−$16.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Liberty Global: profit against cash, quarter by quarterLiberty Global: profit against cash, quarter by quarterNet incomeOperating cash flow$2.3B$792MQ4 2024−$1.3B$129MQ1 2025−$2.8B$149MQ2 2025−$83.4M$302MQ3 2025−$2.9B$631MQ4 2025$358M$108MQ1 2026−$358M$231MQ2 2026$548M$606MQ3 2026
Latest (Q3 2026): Net income $548M, Operating cash flow $606M.
Liberty Global: diluted shares by fiscal yearLiberty Global: diluted shares by fiscal year602MFY2020569MFY2021497MFY2022426MFY2023375MFY2024342MFY2025
-43.2% since FY2020: buybacks shrank the count.
Liberty Global: long-term debt falling due (FY2025)Liberty Global: long-term debt falling due (FY2025)$756M2026$81.8M2027$4.4B2028$2.4B2029$25.9M2030$891MLater
Cash $2.1B, short-term investments $76.2M, long-term debt $8.6B at 2025-12-31.
Liberty Global in its industry: growth against margin (12 companies, SIC 4841)Liberty Global in its industry: growth against margin (12 companies, SIC 4841)revenue growth, year over year →↑ operating marginmedian -5%median 10%CMCSACHTRWBDOPTUROKULILAAMCXCABOGLIBAADEAPAAILBTYA (+59%, -1%)
Cable & Other Pay Television Services; dot size is quarterly revenue; dashed lines are the industry's medians.

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🔄Rotation against the market and its industry (RRG)interactive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Liberty Global

We are Liberty Global Ltd. ( Liberty Global ), a dynamic team of operators and investors generating and delivering long-term shareholder value through the strategic management of three complementary platforms: Liberty Telecom, Liberty Growth and Liberty Services. Liberty Telecom is a world leader in converged broadband, video and mobile communications that has built fixed-mobile convergence ( FMC ) national champions through some of Europe’s best-known consumer brands. These brands deliver market-leading connectivity and entertainment products through next-generation networks, providing approximately 80 million fixed and mobile connections at December 31, 2025. We are pursuing strategies in each market to drive commercial momentum, finance and monetize network infrastructure and pursue accretive transactions that deliver value to our shareholders.

In its own words, from its 10-K, filed Feb 18, 2026.

Liberty Global against its Cable & Other Pay Television Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +59% against the peers' median -5%. Operating margin: -0.9% against the peers' median 2.7%.

CompanyQuarterRevenueY/YOp. margin
LBTYA Liberty GlobalQ3 2026$1.9B+59%-0.9%
CMCSA ComcastQ3 2026$29.3B-6%18.2%
CHTR Charter CommunicationsQ3 2026$14.9B+9%-23.6%
WBD Warner Bros. DiscoveryQ2 2026$8.7B-11%2.7%
OPTU Optimum CommunicationsQ3 2026$2.0B-5%-152.9%
ROKU RokuQ3 2026$1.5B+24%10.9%
LILA Liberty Latin AmericaQ3 2026$1.1B+0.4%16.2%
AMCX AMC Global MediaQ2 2026$547M-9%2.9%
CABO Cable OneQ3 2026$332M-12%-103.2%

Source: Liberty Global 10-Q on SEC EDGAR · CIK 1570585 · Cable & Other Pay Television Services

Guidance and outlook

Liberty Global: what its forward-looking statements are about (10-Q filed 2026-11-03)Liberty Global: what its forward-looking statements are about (10-Q filed 2026-11-03)Financing6Demand3Capital spending1Deals1People1Tax1
13 statements; tone -0.08 (−1 all cautious, +1 all confident); 6 hedged.
Liberty Global: outlook statements against the filing beforeLiberty Global: outlook statements against the filing beforeConfident3Cautious4

More on LBTYA

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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