Liberty Media Corp.
) reported solid financial results for the second quarter of
2013, with earnings per share of 79 cents breezing past the Zacks
Consensus Estimate of 49 cents. This strong 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 stakes in both
Live Nation Entertainment Inc.
Charter Communications Inc.
Quarterly GAAP net income was $96 million or 79 cents per
share compared with $937 million or $7.62 per share in the
year-ago quarter. The total revenue was $1,078 million compared
with a mere $135 million in the prior-year quarter and nearly in
line with the Zacks Consensus Estimate of $1,079 million.
In the second quarter of 2013, Liberty Media's adjusted OIBDA
came in at $372 million compared with a meager $18 million in the
year-ago quarter. Quarterly operating income was $236 million
compared with $2 million in the prior-year quarter.
During the first half of 2013, Liberty Media generated $607
million of cash from operations compared with $69 million in the
prior-year period. Free cash flow in the reported period was $543
million compared with $65 million in the year-ago period.
At the end of the first half of 2013, Liberty Media had $2,207
million of cash and cash equivalents compared with $2,745 million
at the end of 2012. Total debt, at the end of the reported
quarter, was $4,363 million compared with $540 million at the end
of 2012. At the end of the reported quarter, the
debt-to-capitalization ratio was 0.15 compared with 0.08 at the
end of 2012.
CHARTER COMM-A (CHTR): Free Stock Analysis
LIBERTY MEDIA-A (LMCA): Free Stock Analysis
LIVE NATION ENT (LYV): Free Stock Analysis
SIRIUS XM RADIO (SIRI): Free Stock Analysis
To read this article on Zacks.com click here.