The Liberty SiriusXM Group Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 08, 2018 at 08:15 am EST
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The Liberty SiriusXM Group reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the third quarter, the company has posted total revenue of $1,468 million against $1,379 million a year ago. Operating income was $1,013 million against $408 million a year ago. Earnings from continuing operations before income taxes were $313 million against $390 million a year ago. Net profit was $283 million against $274 million a year ago. Net earnings attributable to Liberty stockholders were $185 million against $183 million a year ago.
For the nine months, net cash provided by operating activities was $1,291 million against $1,311 million a year ago. Capital expended for property and equipment was $239 million against $207 million a year ago.
Liberty Media Corporation operates and owns interests in a range of media, communications, and entertainment businesses. The Companyâs businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Formula One Group, and the Liberty Live Group. Its Sirius XM Holdings segment operates two complementary audio entertainment businesses, SiriusXM and Pandora and Off-platform. SiriusXM features music, sports, entertainment, comedy, talk, news, traffic and weather channels and other content, as well as podcasts and infotainment services, in the United States on a subscription fee basis. SiriusXMâs packages include live, curated and certain exclusive and on-demand programming. Its Formula 1 segment is a global motorsports business that holds commercial rights with respect to the World Championship, an annual, approximately nine-month long, motor race-based competition. It is also a provider of premium experiences at the world's sports and entertainment events.