Liberty Reports Q2 Earnings, SiriusXM "Outstanding"

Liberty Media Corporation today reported second quarter 2015 results. Highlights include:

“SiriusXM had an outstanding quarter, adding 692,000 subscribers, a 46% increase over the second quarter of 2014, and posting a record low churn rate of 1.6%, the lowest since the merger in 2008. Due to this exceptional execution, SiriusXM raised guidance across the board in their second quarter earnings release”

SiriusXM reported strong second quarter results:

• Subscriber base grew to 28.4 million
• Record second quarter revenue up 8% to $1.12 billion
• Net income of $103 million, including a pre-tax $108 million settlement(2)
• Adjusted EBITDA(3) climbed 12% to record $415 million
• Free cash flow(3) reached $371 million, up 11%
• Liberty Media’s ownership of SiriusXM stood at 59.4% as of July 24, 2015

Greg Maffei

“SiriusXM had an outstanding quarter, adding 692,000 subscribers, a 46% increase over the second quarter of 2014, and posting a record low churn rate of 1.6%, the lowest since the merger in 2008. Due to this exceptional execution, SiriusXM raised guidance across the board in their second quarter earnings release,” stated Greg Maffei, President and CEO of Liberty Media.

“At Liberty, we continued to repurchase our shares with $208 million reported for the period, fully utilizing the funds distributed in conjunction with the Liberty Broadband spin-off.”