Telecommunications and cable service provider Liberty Broadband (NASDAQ:LBRDK) will be reporting results tomorrow before market hours. Here’s what you need to know.
Liberty Broadband beat analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $263 million, up 5.2% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates.
Is Liberty Broadband a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Liberty Broadband’s revenue to grow 1.3% year on year to $248.1 million, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Liberty Broadband has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Liberty Broadband’s peers in the media & entertainment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Interpublic Group’s revenues decreased 8.5% year on year, meeting analysts’ expectations, and Omnicom Group reported revenues up 1.6%, falling short of estimates by 0.6%. Interpublic Group traded up 2.7% following the results while Omnicom Group was down 7.3%.
Read our full analysis of Interpublic Group’s results here and Omnicom Group’s results here.
There has been positive sentiment among investors in the media & entertainment segment, with share prices up 11.2% on average over the last month. Liberty Broadband is up 3.8% during the same time and is heading into earnings with an average analyst price target of $96.75 (compared to the current share price of $78.97).
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