The Liberty SiriusXM Group (LSXMA) Reports Q2 Revenue Beat; Boosts FY17 Guidance for Revenues, Adj. EBITDA & Self-Pay Net Additions

The Liberty SiriusXM Group (NASDAQ: LSXMA) reported Q2 EPS of $. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.33 billion.

• Attributed to Liberty SiriusXM Group
  • SiriusXM reported strong second quarter 2017 results
    • Net self-pay subscribers grew 466,000; total subscribers exceeded 32 million
    • Second quarter revenue climbed 9% to $1.3 billion
    • Quarterly net income rose 16% to $202 million
    • Adjusted EBITDA(2) grew 12% to a quarterly record of $522 million
    • Quarterly operating cash flow rose 12% to $483 million; free cash flow(2) grew 6% to $417 million
    • SiriusXM increased full-year guidance for self-pay net additions, revenue and adjusted EBITDA
  • SiriusXM announced agreement for $480 million investment in Pandora, representing 19% interest or approximately 16% on as converted basis
  • Closed $440 million recapitalization of SiriusXM Canada
  • Liberty Media’s ownership of SiriusXM stood at 68.5% as of July 25th
• Attributed to Formula One Group
  • Closed primary equity offering and used net proceeds of $388 million to partially repay Formula 1 (“F1”) second lien term loan
  • Subsequent to quarter-end, completed refinancing of F1 debt to fully repay second lien term loan
  • Hosted F1 Live event in London, which drew one hundred thousand fans and took over streets of central London
• Attributed to Braves Group
  • Braves attendance at SunTrust Park has increased 36% as of August 7th
  • Battery Atlanta seeing strong demand, with over 70% leased on available retail and residential; remaining development is on-time and on-budget

For earnings history and earnings-related data on The Liberty SiriusXM Group (LSXMA) click here.

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