Business
Liberty Latin America Reports Q2 & H1 2024 Results
Sequential financial growth with Q2 reported revenue up 2% Continued strong Adjusted OIBDA growth in C&W Panama & C&W Caribbean Post-migration impacts in
About this update from Liberty Latin America Ltd.
[{"type":"text","content":"\nSequential financial growth with Q2 reported revenue up 2%\n\n\nContinued strong Adjusted OIBDA growth in C&W Panama & C&W Caribbean\n\n\nPost-migration impacts in Puerto Rico; performance to improve in H2\n\n\nAgreement to combine operations with Tigo in Costa Rica\n\n\n>$300 million across share repurchases & convertible redemption to date in 2024\n\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 (“Q2”) and six months (“YTD” or “H1 2024”) ended June 30, 2024.\n\n\nCEO Balan Nair commented, “We continued to drive operational and financial growth across most of our businesses in the second quarter with notably strong performances in Panama, Costa Rica and the Caribbean. In Puerto Rico, whilst we experienced additional challenges following completion of the mobile subscriber migration, we remain confident of improved performance in the second half.”\n\n\n“Our focus on broadband and postpaid mobile additions continued to drive positive results with over 100,000 net subscribers added in the second quarter across Central America and C&W Caribbean. This was more than double the prior-year and 28% higher than the first quarter. The results were driven by strong mobile growth in Panama, where we successfully won customers following the exit of a competitor, and continued momentum in Costa Rica. We also recently announced the combination of our business in Costa Rica with Tigo, which we will control following closing.”\n\n\n“Costa Rica is a great country to operate in and Liberty Costa Rica is a strong business for us. By combining Liberty and Tigo, the fixed operations will accelerate the transition to FTTH and will enable us to deliver exceptional high-speed services for consumers, provide enhanced customer experiences, drive innovation, and offer growth opportunities for our people. In addition we just launched 5G across the country and are gaining traction in the market as shown by our mobile growth.”\n\n\n“Looking to the second half of the year, we anticipate a significant inflection in financial performance as we move past impacts from our Puerto Rico migration and begin to execute on our growth plans in that market, while maintaining healthy positive momentum a...