Liberty Media Corp. reported mixed financial results in the second quarter of 2016. While the company’s bottom line surpassed the Zacks Consensus Estimate, the top line fell below the mark.
Quarterly net income came in at $13 million or 4 cents per share compared with a net income of $61 million or 18 cents per share in the year-ago quarter. However, second-quarter earnings per share of 4 cents were in marked contrast to the Zacks Consensus Estimate of a loss of 47 cents per share.
Quarterly total revenue came in at $1,366 million, up from $1,222 million in the prior-year quarter. However, the figure lagged the Zacks Consensus Estimate of $1,378 million. Quarterly Subscriber revenues were $1,032 million, up 10.3% year over year while Other revenues totaled $334 million, up 16.8% year over year.
In the reported quarter, Liberty Media’s adjusted operating income before depreciation and amortization was $455 million compared with $418 million in the year-ago quarter. Quarterly operating income was $328 million compared with $171 million in the prior-year quarter. Adjusted EBITDA was $467.8 million, up 12.7% from the year-ago quarter.
In the second quarter of 2016, Liberty Media generated $432.1 million of cash from operations compared with $402.3 million in the prior-year quarter. Free cash flow in the reported quarter was approximately $395 million, up from $370.9 million in the year-ago quarter.
At the end of the second quarter of 2016, Liberty Media had $1,229 million of cash and cash equivalents compared with $201 million at the end of 2015. Total debt, at second-quarter end, was $7,531 million compared with $6,881 million at 2015 end. The debt-to-capitalization ratio was 0.38 at the end of the second quarter, compared with 0.27 at the end of 2015.
Liberty Media currently has a Zacks Rank #3 (Hold). The company partially controls media company Viacom Inc. and concert promoter Live Nation Entertainment Inc. (LYV - Free Report) . Moreover, Liberty Media holds a majority stake in satellite radio broadcaster SIRIUS XM Radio Inc. (SIRI - Free Report) .
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Liberty Media Corp. reported mixed financial results in the second quarter of 2016. While the company’s bottom line surpassed the Zacks Consensus Estimate, the top line fell below the mark.
Quarterly net income came in at $13 million or 4 cents per share compared with a net income of $61 million or 18 cents per share in the year-ago quarter. However, second-quarter earnings per share of 4 cents were in marked contrast to the Zacks Consensus Estimate of a loss of 47 cents per share.
Quarterly total revenue came in at $1,366 million, up from $1,222 million in the prior-year quarter. However, the figure lagged the Zacks Consensus Estimate of $1,378 million. Quarterly Subscriber revenues were $1,032 million, up 10.3% year over year while Other revenues totaled $334 million, up 16.8% year over year.
In the reported quarter, Liberty Media’s adjusted operating income before depreciation and amortization was $455 million compared with $418 million in the year-ago quarter. Quarterly operating income was $328 million compared with $171 million in the prior-year quarter. Adjusted EBITDA was $467.8 million, up 12.7% from the year-ago quarter.
In the second quarter of 2016, Liberty Media generated $432.1 million of cash from operations compared with $402.3 million in the prior-year quarter. Free cash flow in the reported quarter was approximately $395 million, up from $370.9 million in the year-ago quarter.
At the end of the second quarter of 2016, Liberty Media had $1,229 million of cash and cash equivalents compared with $201 million at the end of 2015. Total debt, at second-quarter end, was $7,531 million compared with $6,881 million at 2015 end. The debt-to-capitalization ratio was 0.38 at the end of the second quarter, compared with 0.27 at the end of 2015.
Liberty Media currently has a Zacks Rank #3 (Hold). The company partially controls media company Viacom Inc. and concert promoter Live Nation Entertainment Inc. (LYV - Free Report) . Moreover, Liberty Media holds a majority stake in satellite radio broadcaster SIRIUS XM Radio Inc. (SIRI - Free Report) .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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