Liberty Media Corp.
) 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.
). 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.
Barnes & Noble Inc.
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
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
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
LIBERTY MEDIA-A (LMCA): Free Stock Analysis
LIVE NATION ENT (LYV): Free Stock Analysis
SIRIUS XM RADIO (SIRI): Free Stock Analysis
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