Liberty Media Posts Q1 Profit

(RTTNews) - Liberty Media Corp.(LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) reported that its first-quarter net earnings attributable to stockholders was $365 million, compared to a loss of $19 million in the same quarter last year.

Total revenue for the quarter rose to $1.204 billion from $1.081 billion in the prior year.

Liberty SiriusXM Group's revenue increased 12% to $1.2 billion in the first quarter, adjusted OIBDA increased 9% to $439 million and operating income increased 16% to $336 million. The increases in revenue, adjusted OIBDA and operating income were primarily attributable to an increase in the daily weighted average number of subscribers and increases in certain of SiriusXM's self-pay subscription rates

Liberty Media Group's operating income increased $507 million to $488 million in the first quarter primarily due to proceeds from the Vivendi lawsuit settlement that are one-time in nature.