(FWONA), (LSXMA) – Liberty SiriusXM, Liberty Formula One Help Liberty Media Achieve 51% Revenue Growth
- Freedom media reported 50.7% year-over-year consolidated revenue growth in the second quarter of fiscal 21 to $ 2.88 billion.
- Liberty SiriusXM Group revenue increased 15% year-on-year to $ 2.16 billion. Net additions of SiriusXM self-paying subscribers increased 34% year-on-year to 355,000.
- SiriusXM Liberty Group (NASDAQ: LSXMA) held 78% of Gestion Sirius XM Inc (NASDAQ: SIRI) as of July 23.
- Liberty Formula One Group (NASDAQ: FWONA) Revenue was $ 501 million, up from $ 24 million a year ago.
- Baseball helped the Braves Group generate $ 216 million in revenue, up from $ 11 million a year ago.
- Liberty Media’s operating profit improved 190.7% year-over-year to $ 622 million. Liberty SiriusXM operating profit increased 66% year-over-year to $ 634 million.
- Liberty Media’s adjusted OIBDA improved 48.1% year-over-year to $ 813 million. Liberty SiriusXM’s adjusted OIBDA improved 16% year-on-year to $ 697 million.
- Liberty Media posted positive net income of $ 417 million. Liberty SiriusXM’s net income was $ 337 million.
- Liberty Media held $ 4 billion in cash and cash equivalents, including $ 1.55 billion from Liberty Sirius XM and $ 2.23 billion from Formula One.
- Liberty Media generated $ 1.2 billion in operating cash flow, including $ 875 million from Liberty SiriusXM and $ 312 million from Formula One.
- SiriusXM delivered exceptional results and recently increased its forecast for 2021, said Greg Maffei, CEO of Liberty Media.
- Formula 1 is on the right track for its fans, teams, partners and investors and has done an impressive job towards the 2021 calendar.
- The Braves are competitive on the pitch and lead the MLB in total attendance, with over 1.5 million fans returning to Truist Park so far this season.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.