GCI Liberty Reports Fourth Quarter and Year End 2019 Financial Results
GCI LIBERTY (GLIBA)
Last gci liberty earnings: 11/11 04:15 pm
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Source: Business Wire
ENGLEWOOD, Colo.--(BUSINESS WIRE)--GCI Liberty, Inc. (“GCI Liberty”) (Nasdaq: GLIBA, GLIBP) today reported fourth quarter and year end 2019 results. Headlines include(1):GCI(2) total revenue down 1% for the fourth quarter and full year 2019GCI Consumer revenue flat for both periods, with Consumer data revenue up 5% in the fourth quarter and 6% in the full yearGCI Business revenue down 1% in the fourth quarter and 2% in the full yearGCI operating loss decreased for the fourth quarter and full yearGCI Adjusted OIBDA(3) increased 21% in the fourth quarter and declined 4% in the full yearUpdates to Rural Health Care matters resulted in $4 million net benefit to operating income and Adjusted OIBDA in the fourth quarter and $17 million detriment in the full year, due to:FCC(4) granting the appeal of a prior funding denial, resulting in reversal of a $21 million reserve taken in the first quarter of 2019Potential compliance issues identified under certain Rural Health Care contracts resu
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