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Strong Q2 Earnings for Liberty Media - Analyst Blog

By: Zacks.com
Posted: 8/7/2013 12:42:00 PM
Referenced Stocks: CHTR;LMCA;LYV;SIRI

Liberty Media Corp. ( LMCA ) 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. ( SIRI ). Liberty Media currently has a Zacks Rank #3 (Hold). In addition to SIRIUS XM, Liberty Media has stakes in both Live Nation Entertainment Inc. ( LYV ) and Charter Communications Inc. ( CHTR ).     

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 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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