Liberty Media Q1: SiriusXM revenue down 2% to $2.14B; split-off of Braves targeted by end of Q2

Liberty Media Corp

SiriusXM Q1 revenue $2.14B (-2% YoY), net income $233M ($0.06 EPS), adj. EBITDA $625M; full-year guidance raised.
Formula One Group revenue $381M (+6%), adj. OIBDA $117M (-4%); F1 leverage 2.2x triggers term loan margin cut.
Braves Group revenue $31M (+35% YoY) but operating loss widens to $49M on higher player salaries; no home games in Q1.
$575M of 3.75% LSXMA convertible notes issued; proceeds plus cash used to repurchase $591M 1.375% notes and $112M 2.125% debentures.
Completion of split-off of Atlanta Braves and creation of Liberty Live Group tracking stock targeted by end of Q2 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Liberty Media Corp reported financial results for first quarter 2023.

Period: first quarter 2023
Result: reported results

Exact text from the filing

LIBERTY MEDIA CORPORATION REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS Englewood, Colorado, May 5, 2023- Liberty Media Corporation ("Liberty Media" or “Liberty”) (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today reported first quarter 2023 results.

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Liberty Media Corp filing history →

Source: SEC EDGAR

accession 0001560385-23-000015

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