Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Here's How Liberty Media Fared In Q1

  • Liberty Media Corp (NASDAQ:FWONAreported first-quarter 2022 results, with results attributed to Liberty SiriusXM Group, Formula One Group, and Braves Group.
  • Liberty SiriusXM Group: Liberty SiriusXM reported first-quarter FY22 revenue growth of 6% year-on-year to $2.19 billion.
  • Liberty SiriusXM operating income expanded 108% Y/Y to $493 million.
  • Liberty SiriusXM's adjusted OIBDA was $690 million, up 1% Y/Y.
  • Liberty Media's ownership of SiriusXM was 81.4% as of April 26.
  • Formula One Group reported Q1 revenue growth of 100% Y/Y to $360 million.
  • The Group reported an operating income of $19 million and an adjusted OIBDA of $112 million.
  • Braves Group reported Q1 revenue growth of 43.8% Y/Y to $23 million. The adjusted OIBDA loss was $(19) million.
  • Total consolidated cash and equivalents totaled $3.29 billion (Sirius XM's $710 million, Formula One's $2.27 billion, and Braves' $311 million).
  • Liberty Media's board increased the remaining repurchase authorization by $1 billion on May 4.
  • "SiriusXM produced robust financial results while navigating well through challenging macroeconomic conditions and supply chain issues. Live Nation continues to experience record-breaking demand which it is matching with compelling live experiences. The powerful allure of Formula 1 continues, and we were excited to announce that the Las Vegas Grand Prix will join the calendar in November 2023," CEO Greg Maffei said.
  • Price Action: FWONA shares traded higher by 2.55% at $57.51 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.