Liberty Media Reports 2Q Financial Results

 Liberty Media Corporation Friday reported second quarter 2021 results. Headlines include(1):

Attributed to Liberty SiriusXM Group

• SiriusXM reported strong second quarter 2021 financial results
• Second quarter revenue of $2.16 billion; an increase of 15% from prior year period
• Second quarter net income of $433 million; diluted EPS of $0.10
• Record quarterly adjusted EBITDA(2) of $700 million, up 14% from prior year period
• SiriusXM self-pay net subscriber additions of 355,000, an increase of 34% year-over-year
• SiriusXM increased 2021 subscriber and financial guidance on July 27th
• Liberty Media’s ownership of SiriusXM stood at 78.1% as of July 23rd
• From May 1st through July 31st, Liberty repurchased 3.2 million LSXMA/K shares at an average price per share of $44.27 for total cash consideration of $141 million

Attributed to Formula One Group

• Announced Crypto.com as Global Partner and inaugural partner of the F1 Sprint series and expanded BWT partnership to become Official Water Technology Partner
• Secured 3-year broadcast agreement in Netherlands with NENT Group beginning 2022
• Successfully hosted inaugural F1 Sprint ahead of Silverstone Grand Prix
• Repurchased $176 million principal amount of 2.25% AT&T exchangeable debentures in individually negotiated private purchases ahead of October 2021 put / call date funded primarily with sale of 5.3 million AT&T shares

Attributed to Braves Group

• Braves lead MLB in total attendance and average attendance per game

“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%,” said Greg Maffei, Liberty Media President and CEO. “Formula 1 is delivering across the board – on the track, for our fans, teams, partners and investors, and has done an impressive job steering through the 2021 calendar. The Braves are competitive on the field and lead MLB in total attendance, with over 1.5 million fans returning to Truist Park so far this season.”

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 second quarter results on July 27, 2021.