How did LBRDK's Q3 earnings surprise impact investor confidence?

**Liberty Broadband's (LBRDK) Q3 earnings miss had a negative impact on investor confidence**, as evidenced by several key points: 1. **Earnings Miss**: Liberty Broadband reported earnings per share (EPS) of $1.36 for the quarter, missing the consensus estimate of $2.51 by $1.15. This significant earnings shortfall likely contributed to a decline in investor confidence. 2. **Revenue Miss**: Although not explicitly mentioned in the provided references, the revenue miss would further erode investor confidence, especially considering the already low expectation of $244.41 million in revenue, with the actual figure coming in at $245 million. The slight discrepancy might not be significant enough to alter the overall sentiment negatively, but it does not help in rebuilding confidence either. 3. **Analyst Ratings and Price Target Adjustments**: There have been recent adjustments in analyst ratings and price targets. For instance, Citigroup lowered its rating from "buy" to "neutral" and reduced the price target from $67.00 to $57.00. Evercore ISI also cut its price target from $106.00 to $72.00. These downgrades and price target reductions reflect a more cautious outlook from analysts, which can undermine investor confidence. 4. **Investor Sentiment**: The fact that Liberty Broadband's earnings were below expectations could lead to a loss of investor confidence in the company's management and operational efficiency. This can result in a sell-off or reduced investment in the stock. In conclusion, the Q3 earnings miss, along with potential adjustments in analyst ratings and price targets, likely contributed to a decline in investor confidence in Liberty Broadband.