Liberty Global (LBTYA) Q1 FY2022 earnings: revenue $1.9 billion, down 47.0% on the year

Liberty Global Ltd. (LBTYA) reported revenue of $1.9 billion for Q1 FY2022, the quarter ended 31 March 2022, down 47.0% on the same quarter a year earlier. Net income was $1.0 billion, down 25.1% on the year, and diluted earnings per share $1.95. The figures are the company's own, from the 10-Q it filed with the SEC on 10 May 2022.

Revenue$1.9 billiondown 47.0%

Net income$1.0 billiondown 25.1%

Diluted EPS$1.95

QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Revenue	1,853	1,921	n/a	n/a
Cost of revenue	537	572	n/a	n/a
Gross profit	1,316	1,349	n/a	n/a
Gross margin	71.0%	70.2%	n/a
Selling, general and administrative	410	488	n/a	n/a
Operating income	58.8	80.9	n/a	n/a
Operating margin	3.2%	4.2%	n/a
Interest expense	134	133	n/a	n/a
Pre-tax income	1,157	667	n/a	n/a
Income tax	81.2	29.1	n/a	n/a
Effective tax rate	7.0%	4.4%	n/a
Net income	1,038	636	n/a	n/a
Net margin	56.0%	33.1%	n/a
Diluted EPS	$1.95	$1.15	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Operating cash flow	657	991	n/a	n/a
Capital expenditure	373	294	n/a	n/a
Free cash flow	284	698	n/a	n/a
Free cash flow margin	15.3%	36.3%	n/a
Cash from investing	-55.0	-54.2	n/a	n/a
Cash from financing	-658	-784	n/a	n/a
Depreciation and amortisation	565	609	n/a	n/a
Share-based compensation	51.4	86.9	n/a	n/a
Buybacks	481	564	n/a	n/a
Diluted shares, weighted	533m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Shareholders' equity	25,268	25,935	n/a	n/a
Non-controlling interest	-261	-337	n/a	n/a
Debt	14,597	14,825	n/a	n/a
Operating lease liabilities	1,121	1,226	n/a	n/a
Finance lease liabilities	398	417	n/a	n/a
Other liabilities	4,425	4,851	n/a	n/a
Total liabilities and equity	45,548	46,917	n/a	n/a
Goodwill	9,367	9,523	n/a	n/a
Intangible assets	2,204	2,342	n/a	n/a
Investments	21,118	21,973	n/a	n/a
Cash and equivalents	843	911	n/a	n/a
Receivables	876	907	n/a	n/a
Other assets	11,139	11,261	n/a	n/a
Total assets	45,548	46,917	n/a	n/a

Questions

What was Liberty Global's revenue in Q1 FY2022?

Liberty Global (LBTYA) reported revenue of $1.9 billion for Q1 FY2022, the quarter ended 31 March 2022, down 47.0% on the same quarter a year earlier.

How much did Liberty Global earn in Q1 FY2022?

Net income for Q1 FY2022 was $1.0 billion, down 25.1% on the year, and diluted earnings per share $1.95.

When did Liberty Global report Q1 FY2022 results?

Liberty Global filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 10 May 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,901	1,921	1,853	1,754	1,746	1,842	1,868	1,848	1,854	1,920	1,091	1,058	1,070	1,123	1,171	1,269	1,207	1,231	1,275	1,172
Cost of revenue	522	572	537	481	484	584	571	584	586	708	394	336	320	399	403	465	393	409	427	375
Gross profit	1,379	1,349	1,316	1,274	1,262	1,258	1,298	1,264	1,268	1,212	697	722	749	724	768	804	814	822	848	797
Gross margin	73%	70%	71%	73%	72%	68%	69%	68%	68%	63%	64%	68%	70%	64%	66%	63%	67%	67%	67%	68%
SG&A	399	488	410	406	365	437	415	442	424	480	263	286	270	320	285	305	308	325	299	312
Operating income	101	80.9	58.8	24.5	109	-45.4	18.3	-66.8	-92.8	-172	-12.3	-33.0	33.4	-48.2	60.7	29.6	-8.0	-106	23.8	3.0
Operating margin	5%	4%	3%	1%	6%	-2%	1%	-4%	-5%	-9%	-1%	-3%	3%	-4%	5%	2%	-1%	-9%	2%	0%
Interest expense	141	133	134	133	150	172	201	214	241	252	254	252	251	-182	128	130	123	117	114	116
Pre-tax income	318	667	1,157	2,346	2,496	-4,575	-701	-352	821	-3,492	677	352	-1,435	2,244	-1,393	-2,773	-130	-2,876	534	-335
Tax rate	1%	4%	7%	3%	3%	n/a	n/a	n/a	-0%	n/a	6%	8%	n/a	-4%	n/a	n/a	n/a	n/a	33%	n/a
Net income	277	636	1,038	2,787	2,348	-4,700	-721	-500	659	-3,490	510	268	-1,434	2,244	-1,337	-2,793	-90.7	-2,917	338	-365
Net margin	15%	33%	56%	159%	134%	-255%	-39%	-27%	36%	-182%	47%	25%	-134%	200%	-114%	-220%	-8%	-237%	27%	-31%
Diluted EPS	$0.49	$1.15	$1.95	$5.47	$4.87	n/a	-$1.59	-$1.13	$1.57	-$8.92	$1.32	$0.71	-$3.95	$6.11	-$3.84	-$8.09	-$0.27	-$8.66	$0.96	-$1.07 basic
Operating cash flow	613	991	657	757	540	883	308	692	327	839	246	546	450	792	129	149	302	631	108	231
Capital expenditure	246	294	373	261	295	374	377	311	328	370	206	289	347	n/a	243	319	343	438	398	348
Free cash flow	367	698	284	496	245	509	-69.4	381	-0.7	469	39.6	257	102	n/a	-114	-170	-41.1	193	-290	-117
Buybacks	359	564	481	561	532	130	229	379	525	362	176	170	165	178	37.9	64.1	56.2	33.9	0.0	0.0
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 10 May 2022: the filing.