Strong 1Q Earnings for Liberty Media - Analyst Blog

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Liberty Media Corp. ( LMCA ) reported excellent financial results for the first quarter of 2013, well ahead of the Zacks Consensus Estimate. This extraordinary performance was primarily attributed to the contribution from its newly acquired controlling stake of SIRIUS XM Radio Inc. ( SIRI ). Liberty Media currently has a Zacks Rank #3 (Hold). In addition to SIRIUS XM, Liberty Media has a stake in both Live Nation Entertainment Inc. ( LYV ) and Barnes & Noble Inc. ( BKS ).     

Quarterly GAAP net income was $8,062 million (including a net $7,479 million of gain on transaction) or $4.02 per share compared with $150 million or 52 cents per share in the year-ago quarter. First-quarter earnings per share of $4.02 were way ahead of the Zacks Consensus Estimate of 27 cents. The total revenue was $789 million compared with a mere $35 million in the prior-year quarter and well above the Zacks Consensus Estimate of $35 million.  

In the first quarter of 2013, Liberty Media's adjusted OIBDA came in at $271 million compared with a negative $17 million in the year-ago quarter. Quarterly operating income was $160 million compared with an operating loss of $32 million in the prior-year quarter. In the previous quarter, Liberty Media repurchased 0.6 million shares for a total cash consideration of $71 million.


During the first quarter of 2013, Liberty Media generated $339 million of cash from operations compared with $108 million in the prior-year period. Free cash flow in the reported quarter was $316 million compared with $106 million in the year-ago quarter.

At the end of the first quarter of 2013, Liberty Media had $3,166 million of cash and cash equivalents compared with $2,745 million at the end of 2012. The total debt, at the end of the reported quarter, was $2,419 million compared with $540 million at the end of 2012. At the end of the last quarter, the debt-to-capitalization ratio was 0.09 compared with 0.08 at the end of 2012.



BARNES & NOBLE (BKS): Free Stock Analysis Report

LIBERTY MEDIA-A (LMCA): Free Stock Analysis Report

LIVE NATION ENT (LYV): Free Stock Analysis Report

SIRIUS XM RADIO (SIRI): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Earnings , Stocks

Referenced Stocks: BKS , LMCA , LYV , SIRI

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