Tuesday, May 9, 2017

Liberty Media Reports 1Q 2017 Financial Results

Liberty Media Corporation today reported first quarter 2017 results. Highlights include:

Attributed to Liberty SiriusXM Group
  • SiriusXM reported solid first quarter 2017 results
  • First quarter revenue climbed 8% to $1.3 billion
  • Quarterly net income rose 20% to $207 million
  • Adjusted EBITDA grew 14% to $502 million
  • Net self-pay subscribers grew 259,000 in the first quarter
  • Liberty Media’s ownership of SiriusXM stood at 67.8% as of April 25th
The following table provides the financial results attributed to Liberty SiriusXM Group for the first quarter of 2017. In the first quarter, approximately $9 million of corporate level selling, general and administrative expense (including stock-based compensation expense) was allocated to the Liberty SiriusXM Group.

SiriusXM is a separate publicly traded company and additional information about SiriusXM can be obtained through its website and filings with the Securities and Exchange Commission. SiriusXM reported its stand-alone first quarter results on April 27, 2017.

Total debt attributed to Liberty SiriusXM Group increased $137 million during the quarter primarily due to borrowings under SiriusXM’s revolving credit facility.

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