Liberty Media Reports 38% Revenue Increase YoY

Liberty Media Corporation today reported second quarter 2019 results.

Highlights include:

Attributed to Liberty SiriusXM Group

• SiriusXM reported very strong 2Q 2019 financial results
• Revenue increased to $2.0 billion; pro forma growth of 9%
• Net income of $263 million; diluted EPS of $0.06
• Adjusted EBITDA(2) climbed 22% to record $618 million
• $898 million of common stock repurchased in the second quarter; total capital returns of nearly $1.9 billion to date in 2019
• SiriusXM increased 2019 revenue and adjusted EBITDA guidance
• Liberty Media’s ownership of SiriusXM stood at 71.1% as of July 26th
• From May 1st through July 31st, Liberty repurchased 2.2 million LSXMK shares at an average price per share of $38.18 and total cash consideration of $85 million

Attributed to Formula One Group

• Announced return of Dutch Grand Prix beginning in 2020 and renewal of British and Australian races
• Kicked off 2019 Formula 1 New Balance Esports Series with record breaking 109,000 participants; Pro Draft completed by all ten teams on July 17th
• Announced Season 2 of Netflix docuseries “Formula 1: Drive to Survive” which will air in 2020 and feature all ten F1 teams

Attributed to Braves Group

• Team performance continues to be strong, with 68-48 record as of August 7th
• SunTrust Park will host 2021 MLB All-Star Game

“It was another outstanding quarter for SiriusXM, again setting financial records. They further established their leadership and unique position in content, announcing a groundbreaking collaboration with Drake and hosting their first-ever combined event with Pandora featuring Lady Gaga,” said Greg Maffei, Liberty Media President and CEO. “Formula 1 produced some phenomenal racing and the Braves continue to lead the NL East.”