GCI Liberty Reports Q1 2020 Financial Results

GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBP) has reported first quarter 2020 results, the company said.

Headlines include(1):

Ensuring business continuity amidst COVID-19 pandemic
GCI(2) revenue increased 9% compared to the first quarter of 2019
Excluding revenue related to 2019 recognized in the quarter, GCI revenue increased 4%
GCI Consumer revenue up 3%
GCI Business revenue up 14%
Excluding revenue related to 2019 recognized in the quarter, GCI Business revenue increased 6%
GCI operating income and Adjusted OIBDA(3) increased
GCI launched 5G service in Anchorage on April 17th
Liquidity as of March 31st
USD 569 million of cash and cash equivalents, including USD 82 million at GCI
USD 267 million undrawn capacity under the GCI senior credit facility

GCI participates in various Universal Service Fund (“USF”) programs, which provide government subsidies to customers in low income areas, including schools, libraries and other facilities.