Liberty Latin America announced its financial and operating results for the three months ended March 31, 2023. According to the company, it was a good start to the year, delivering solid subscriber growth in the first quarter and remaining on track to achieve its 2023 financial guidance targets.
Liberty Latin America added internet and mobile postpaid subscribers across all of its reporting segments in the first quarter. Broadband additions were particularly strong led by improved performance in C&W Caribbean as the company continues to make its networks Giga-Ready and offer customers with differentiated converged propositions.
In connection with its enhanced services and offers, the company recently implemented nominal price increases in select markets to reflect the added value being delivered to its customers, according to the group. In most cases, these rate adjustments follow several years without any increase, the firm noted.
Inorganically, 2023 is a key year for the group as it works to complete its integrations in Puerto Rico, Panama and Costa Rica, which will deliver significant value for its stakeholders. The company has started to migrate prepaid mobile customers onto its own platform in Puerto Rico and is taking swift action to drive synergies in Panama following the removal of integration-related restrictions in January.
“We remain confident in our cash generation for the business, and have renewed our buyback authorization for up to an additional US$200 million through the end of 2025. Our first quarter performance provides a solid foundation for 2023. As we progress through the year, we plan to maintain a relentless focus on delivering value for our customers, executing our integration initiatives, and driving further growth for shareholders,” said Balan Nair, CEO of Liberty Latin America.