What caused LBTYB's Q3 2024 EPS to surge unexpectedly?

The unexpected surge in Liberty Global Class B's (LBTYB) Q3 2024 EPS can be attributed to **Revenue Growth and Cost Management**. 1. **Revenue Increase**: Despite the net loss, Liberty Global reported a revenue increase of 4.31% to $1.935 billion in Q3 2024 compared to the previous year. This growth in revenue, although modest, contributes to the overall income and can lead to a higher EPS when combined with other factors. 2. **Cost Management**: The company's gross profit margin stood at 67.19% as of Q2 2024, indicating efficient cost management. Effective cost management can lead to higher net income, even with a negative return on equity and negative net margin, as it reduces the amount of costs that need to be deducted from revenue to arrive at net income. 3. **Strategic Moves**: Liberty Global's strategy of merging or partnering with mobile network operators since 2016 to offer integrated services may have started to show positive results, contributing to the revenue growth. 4. **Market Expansion**: The company's expansion into new markets and its focus on innovation could have led to increased revenue and a higher EPS. In conclusion, the unexpected surge in LBTYB's Q3 2024 EPS can be attributed to a combination of revenue growth, cost management, strategic moves, and market expansion. These factors, either directly or indirectly, contribute to the company's profitability and can lead to a higher EPS.