Liberty Latin America 3Q20 revenue drops 8.2% to USD888m

5 Nov 2020

Regional telecoms group Liberty Latin America (LLA) has reported revenues of USD888 million for the three months ended 30 September 2020, down 8.2% from USD967 million in 3Q19. Adjusted OIBDA dropped 5.1% from USD380 million to USD360 million in the quarter under review, while the group generated quarterly operating income of USD87 million, compared to a net loss of USD70 million in the corresponding period one year earlier. The net loss attributable to shareholders, meanwhile, was USD85 million.

In operational terms, LLA reported a consolidated mobile user base of 3.379 million at 30 September 2020, alongside 2.736 million fixed broadband subscribers, 1.960 million pay-TV customers and 1.448 million fixed voice users.

CEO Balan Nair commented: ‘Following a challenging second quarter, we delivered improved financial and operating performance in Q3, as the majority of our markets began to recover from the impacts of COVID-19. We saw strong demand for our high-speed broadband-led propositions and achieved record quarterly fixed RGU additions in each of C&W [i.e. legacy Cable & Wireless markets] and Puerto Rico, with over 100,000 new subscribers across both reporting segments. Our C&W markets also swung back to mobile subscriber growth following declines during Q2, and we will build on this momentum through the rest of the year.’

United States, Liberty Latin America (LLA)