Liberty Media Q2 Profit Down - Quick Facts

(RTTNews) - Liberty Media Corp. (LMCA, LMCB, LMCK) reported that its second-quarter net earnings attributable to stockholders declined to $50 million from $93 million in the prior year.

But, total revenue for the quarter grew to $1.160 billion from $1.078 billion in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report revenues of $1.16 billion for the quarter. Analysts' estimates typically exclude special items.

Liberty Media acquired its controlling interest in SiriusXM on January 18, 2013 and has applied purchase accounting and consolidated the results of SiriusXM since that date. Prior to the acquisition of Liberty Media's controlling interest, the company accounted for the investment in SiriusXM using the equity method.

SiriusXM reported net income of $120 million in the second-quarter of 2014. Revenue exceeded $1.0 billion, up 10% from the second quarter of 2013. Adjusted EBITDA grew 31% to $370 million. Full-year 2014 financial guidance raised.