Shares of Liberty Latin America Ltd. Class C (NASDAQ:LILAK) tumbled 5.04% on Wednesday after the telecommunications company reported disappointing financial results for the third quarter of 2024.

The company's revenue declined 3.3% year-over-year to $1.09 billion, missing analysts' expectations. More concerning was the net loss of $435.8 million, or $2.22 per share, a significant deterioration from the $59.7 million profit recorded in the same quarter last year.

While Liberty Latin America's revenue growth forecast of 3.4% for the next three years is in line with the broader telecom industry in the U.S., the company's financial performance in Q3 was a major disappointment. The steep decline in profitability, likely driven by increased expenses or one-time charges, has raised concerns among investors and analysts, leading to the sharp sell-off in the stock.