Liberty Global - B

Q1 FY2026 EarningsQ2 FY26 revenue reached $1.17B, down 7.7% YoY, primarily due to the disposition of UPC Slovakia and organic subscriber declines in Belgium. Adjusted EBITDA was $324.9M, with a margin of 27.7%, reflecting ongoing cost pressures despite reduction initiatives. The company reported a net loss attributable to shareholders of $365.1M, a significant improvement from the $2.79B loss in Q2 FY25 which was skewed by massive FX movements. Strategic focus remains on Benelux consolidation, with the VodafoneZiggo 100% acquisition expected to close by July 31, 2026.