Liberty Broadband Corp. Inc. said its first-quarter normalized net income was a loss of 48 cents per share, compared with a loss of 33 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $49.9 million, compared with a loss of $33.6 million in the year-earlier period.

Total revenue decreased 71.2% on an annual basis to $3.8 million from $13.3 million, and total operating expenses fell 43.6% from the prior-year period to $13.2 million from $23.4 million.

Reported net income totaled a loss of $22.2 million, or a loss of 22 cents per share, compared to income of $5.0 million, or 5 cents per share, in the year-earlier period.