Business
Liberty Latin America Reports Q1 2022 Results
Reported revenue growth of 5% to $1.2 billion, 1% higher on a rebased basis Record mobile postpaid additions of 121,000 >160,000 homes passed or upgraded;
About this update from Liberty Latin America Ltd.
[{"type":"text","content":"\nReported revenue growth of 5% to $1.2 billion, 1% higher on a rebased basis\n\nRecord mobile postpaid additions of 121,000\n\n>160,000 homes passed or upgraded; 99% fiber-to-the-home\n\nPuerto Rico and Costa Rica integration programs on-track\n\nAcceleration of share buyback activity; >$55 million in quarter\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced its financial and operating results for the three months (“Q1”) ended March 31, 2022.\n\nCEO Balan Nair commented, “We have made good progress against a number of our key operational objectives in the first quarter. Of note, we delivered record mobile postpaid growth, grew our fixed subscriber base, continued to expand our high-speed networks and progressed business integrations in Puerto Rico and Costa Rica.”\n\n“Our sales initiatives and focus on delivering innovative offerings drove our best ever quarter of mobile postpaid additions with over 120,000 new subscribers. The residential fixed business was led by strong performances in Costa Rica, Puerto Rico and Panama. We continued to see a challenging environment in Chile where we reported net RGU losses over the quarter, however the launch of aggressive new offers in March drove record gross additions in the month.”\n\n“With respect to our inorganic strategy, we continue to make good progress with the integrations of AT&T's Puerto Rico and USVI operations and Telefónica's Costa Rica assets, each of which we expect to drive significant synergies in the coming years. In addition, we are on-track to complete the transactions announced in Panama and Chile during H1 and H2, respectively.”\n\n“Overall, we have had a steady start to the year and anticipate building operational and financial momentum through 2022. We remain confident in our medium-term outlook and accelerated our buyback activity in the first quarter, repurchasing over $55 million of our shares.”\n\nBusiness Highlights\n\n\nC&W Caribbean & Networks: solid financial start to year\n\n\nRecord mobile postpaid adds driven by sales initiatives, including converged offerings\n\n\nReported and rebased Adj. OIBDA growth of 6% and 8%, respectively\n\n\n\n\n\nC&W Panama: robust fixed and mobile postpaid operating momentum\n\n\nFixed RGU adds of 24,000 up 136% YoY\...