GCI Liberty, Inc. (GLIBA) shares plummeted 5.54% during intraday trading on Wednesday, following the release of its fourth quarter and full year 2025 financial results.

The company reported a full-year operating loss of $347 million, primarily driven by a $525 million non-cash impairment charge related to intangible assets and goodwill. While Q4 adjusted OIBDA grew 7% to $90 million, revenue for the quarter was flat at $262 million and missed analyst estimates of $264.18 million.

GCI Liberty's consumer revenue declined 2% due to the exit from the video business and data subscriber losses, partially offset by growth in wireless. The company also completed a $300 million rights offering in December 2025, which it plans to use for general corporate purposes and potential strategic acquisitions.