Second quarter revenues jump 10% at Liberty Media´s Sirius XM Group

Liberty Media Corporation announced on Friday that second quarter revenue for Liberty SiriusXM Group, in which it held a 64.8% stake, jumped by 10% from the corresponding quarter last year.

Nasdaq 100

20,907.72

10:25 14/11/24

-0.61%

-128.45

Liberty SiriusXM Group´s net income was $173m in the second quarter, which works out to growth of 68% year-over-year.

The broadcaster´s revenues rose 10% to $1.2bn, which was in line with the analysts' predictions. Its sales were helped by net subscriber growth of 8% to reach 30.6m in the second quarter.

CEO and president of Liberty Media, Greg Maffei, said "SiriusXM posted outstanding results for the quarter, reaching over 30.6mn subscribers. The company set a quarterly revenue record and once again increased its guidance on 26 July."

Revenue for Liberty Braves Group, owners of the Atlanta Braves baseball team, improved $28m to $131m, as stronger ticket sales and broadcast revenue boosted top-line growth, driving operating income higher by $3m to -$3m.

Liberty is a diverse media and entertainment business, run by majority shareholder John Malone. Shares in the company rose 1% to $22.13 in morning trading.