Liberty Global (LBTYA) Q3 FY2026 earnings: revenue $1.9 billion, up 59.1% on the year

Liberty Global Ltd. (LBTYA) reported revenue of $1.9 billion for Q3 FY2026, the quarter ended 30 September 2026, up 59.1% on the same quarter a year earlier. Net income was $458 million, and diluted earnings per share $1.32. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$1.9 billion

+59.1% on the year · +63.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-0.9%

-0.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

$458 million

Q4 FY2024Q3 FY2026

Diluted EPS

$1.32

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 8 kept.

Consolidated revenue rose on consolidation: Consolidated revenue was $1,920.6 million, up 59.1% reported and up 1.0% rebased. VodafoneZiggo has been consolidated since July 2026.
VMO2 revenue and EBITDA declined: VMO2 JV revenue was $3,262.7 million, down 5.0% reported and 5.7% rebased. Adjusted EBITDA was $1,207.8 million, down 3.4% reported and 3.9% rebased.
VodafoneZiggo broadband growth continued: VodafoneZiggo added broadband subscribers for a second consecutive quarter, the best broadband result since 2019 according to the release.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,921	1,172	1,207	+63.9%	+59.1%
Cost of revenue	607	375	393	+61.8%	+54.6%
Gross profit	1,313	797	814	+64.9%	+61.3%
Gross margin	68.4%	68.0%	67.5%
Selling, general and administrative	482	312	308	+54.3%	+56.5%
Operating income	-18.1	3.0	-8.0
Operating margin	-0.9%	0.3%	-0.7%
Interest expense	274	116	123	+136.6%	+122.4%
Pre-tax income	-105	-335	-130
Income tax	-652	22.8	-46.9
Net income	458	-365	-90.7
Net margin	23.8%	-31.2%	-7.5%
Diluted EPS	$1.32	-$1.07 basic	-$0.27

$ 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.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	606	231	302	+162.3%	+100.7%
Capital expenditure	421	348	343	+21.0%	+22.7%
Free cash flow	185	-117	-41.1
Free cash flow margin	9.6%	-10.0%	-3.4%
Cash from investing	-1,598	392	-361
Cash from financing	604	-22.1	-82.4
Depreciation and amortisation	529	262	276	+101.4%	+91.7%
Share-based compensation	57.7	43.9	46.6	+31.4%	+23.8%
Buybacks	100	0.0	56.2		+77.9%
Diluted shares, weighted	347m	340m	340m	+2.1%	+2.2%
Shares outstanding at period end	332m	341m	337m	-2.5%	-1.3%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	9,604	9,225	12,744	+4.1%	-24.6%
Non-controlling interest	807	238	218	+239.5%	+269.9%
Debt	20,523	8,322	8,462	+146.6%	+142.5%
Operating lease liabilities	902	724	733	+24.7%	+23.1%
Finance lease liabilities	42.5	22.6	26.3	+88.1%	+61.6%
Other liabilities	6,248	3,002	3,211	+108.1%	+94.6%
Total liabilities and equity	38,127	21,532	25,395	+77.1%	+50.1%
Goodwill	7,498	3,416	3,615	+119.5%	+107.4%
Intangible assets	7,160	1,267	1,402	+465.2%	+410.7%
Investments	5,051	6,700	11,045	-24.6%	-54.3%
Cash and equivalents	2,047	2,419	1,674	-15.4%	+22.2%
Receivables	650	521	518	+24.7%	+25.4%
Other assets	15,721	7,210	7,140	+118.0%	+120.2%
Total assets	38,127	21,532	25,395	+77.1%	+50.1%

Questions

What was Liberty Global's revenue in Q3 FY2026?

Liberty Global (LBTYA) reported revenue of $1.9 billion for Q3 FY2026, the quarter ended 30 September 2026, up 59.1% on the same quarter a year earlier.

How much did Liberty Global earn in Q3 FY2026?

Net income for Q3 FY2026 was $458 million, and diluted earnings per share $1.32.

When did Liberty Global report Q3 FY2026 results?

Liberty Global filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	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	Q3 FY2026
Revenue	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	1,921
Cost of revenue	572	537	481	484	584	571	584	586	708	394	336	320	399	403	465	393	409	427	375	607
Gross profit	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	1,313
Gross margin	70%	71%	73%	72%	68%	69%	68%	68%	63%	64%	68%	70%	64%	66%	63%	67%	67%	67%	68%	68%
SG&A	488	410	406	365	437	415	442	424	480	263	286	270	320	285	305	308	325	299	312	482
Operating income	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	-18.1
Operating margin	4%	3%	1%	6%	-2%	1%	-4%	-5%	-9%	-1%	-3%	3%	-4%	5%	2%	-1%	-9%	2%	0%	-1%
Interest expense	133	134	133	150	172	201	214	241	252	254	252	251	-182	128	130	123	117	114	116	274
Pre-tax income	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	-105
Tax rate	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	n/a
Net income	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	458
Net margin	33%	56%	159%	134%	-255%	-39%	-27%	36%	-182%	47%	25%	-134%	200%	-114%	-220%	-8%	-237%	27%	-31%	24%
Diluted EPS	$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	$1.32
Operating cash flow	991	657	757	540	883	308	692	327	839	246	546	450	792	129	149	302	631	108	231	606
Capital expenditure	294	373	261	295	374	377	311	328	370	206	289	347	n/a	243	319	343	438	398	348	421
Free cash flow	698	284	496	245	509	-69.4	381	-0.7	469	39.6	257	102	n/a	-114	-170	-41.1	193	-290	-117	185
Buybacks	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	100
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	346m	341m	337m	335m	338m	341m	332m
Filing	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	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 30 September 2026, filed 3 November 2026: the filing.