Earnings Reports
Liberty Media Revenue Gains on SiriusXM Strength
In terms of operating income, SiriusXM posted a 66 percent gain to $634 million and the Braves swung from a $33 million loss to a $31 million profit. Formula One’s operating loss narrowed from $136 million to $43 million. Liberty Media, led by CEO Greg Maffei, saw its total operating income hit $622 million for the three months ending June 30, compared with $214 million in the year-ago period. Revenue rose from $1.91 billion to $2.88 billion. Said Maffei: “SiriusXM executed well, produced outstanding results and recently increased their 2021 guidance. They continue to repurchase stock, and Liberty’s ownership is now over 78 percent. He added: “Formula 1 is delivering across the board — on the track, for our fans, teams, partners and investors — and has done an impressive job steering throu...
Live Nation’s Third Quarter Earnings: Five Questions Answered
But the game of attrition could end next summer. Live Nation’s earnings call Thursday became outdated after news of a successful COVID-19 vaccine trial was released on Monday (Nov. 9). Its share price jumped as much as 38.7% Monday morning after drug companies Pfizer and BioNTech announced their vaccine was 90% effective in a large-scale trial. The vaccine could be available late this year and widely distributed before the lucrative summer touring season. Keeping in mind the recent news, here are five questions that were answered with Live Nation’s third-quarter earnings. Where does Live Nation’s liquidity stand? Live Nation has enough capital to last through 2021. On Sept. 30, Live Nation had $2.6 billion of total cash and cash equivalents (vs. $3.3 billion in the second quarter), includi...
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