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Liberty Latin America Q1 revenues down 9% to USD1.1bn

9 May 2023

Liberty Latin America (LLA) has reported revenue of USD1.104 billion for the three months ended 31 March 2023, down 9% from USD1.216 billion on an annualised basis. The group reported adjusted OIBDA of USD407 million, a 7% decrease year-on-year from USD437 million, while operating income for the quarter was USD113 million, down 39% from USD185 million in 1Q22. The net loss attributable to shareholders, meanwhile, was USD50 million, compared to net earnings of USD81 million in the year-ago period.

In operational terms, LLA reported a consolidated mobile subscription base of 8.028 million at 31 March 2023, alongside 1.754 million fixed broadband subscriptions, 952,500 pay-TV customers and 1.147 million fixed voice lines.

CEO Balan Nair commented: ‘We had a good start to the year, delivering solid subscriber growth in the first quarter and remain on track to achieve our 2023 financial guidance targets. We added internet and mobile post-paid subscribers across all of our reporting segments in Q1 … Inorganically, 2023 is a key year as we work to complete our integrations in Puerto Rico, Panama and Costa Rica, which will deliver significant value for our stakeholders. We have started to migrate pre-paid mobile customers onto our own platform in Puerto Rico and are taking swift action to drive synergies in Panama following the removal of integration-related restrictions in January.’

United States, Liberty Latin America (LLA)

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