Earnings Call Summary | Liberty SiriusXM Series C(LSXMK.US) Q1 2024 Earnings Conference

Futu News ·  May 9 05:43  · Conference Call

The following is a summary of the The Liberty SiriusXM Group (LSXMK) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Liberty SiriusXM reported SiriusXM's Q1 revenue up by 1%, and EBITDA up by 4%, benefitting from cost optimization across the organization.

  • First-quarter performance of Formula One Group included revenue, cash, and liquid investments of $1.3 billion.

  • Liberty Live Group reported attributed cash, liquid investments, and monetizable public holdings of $423 million.

  • Atlanta Braves Holdings (AVH) experienced revenue growth primarily from higher broadcasting and increased demand and attendance at spring training games.

  • The Battery, an AVH asset, grew its revenue by 13% and its adjusted OIBDA by 9% in Q1.

  • SiriusXM saw a decrease in its principal debt amount from $11.1 billion to $9.3 billion.

Business Progress:

  • Strategic initiatives for SiriusXM include promising metrics on its new app and a successful rollout of 360L in partnership with Hyundai Genesis.

  • Formula One Group acquired MotoGP and announced new technical regulations for the year 2027.

  • Liberty Live Group reported record first-quarter sponsorship for Live Nation and double-digit growth in concert ticket sales.

  • Atlanta Braves Holdings witnessed strong demand with multiple seasonal sellouts.

  • Significant progress made by F1 in sustainability, diversity, and inclusion initiatives, including the F1 Engineering Scholarship and the F1 Academy Discover your Drive program.

  • Formula One Group is exploring new venues to further grow its business and has reported successful pre-sales for their upcoming Las Vegas event.

  • The Sirius transaction, expected to close in early 3Q, is making good progress with the approval process.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment