UPDATE: Liberty Media Q4 Profit Surges

reported a strong rise in its profit for the fourth quarter. The Englewood, Colorado-based company reported a quarterly profit of $143.1 million, compared to a year-ago profit of $65.2 million. Its revenue climbed around 7% to $1.1 billion, versus analysts' estimates of $1.09 billion. Adjusted OIBDA climbed $40 million to $359 million in the quarter, while operating income rose $17 million to $206 million. Greg Maffei, President and CEO of Liberty Media said, "We are also pleased to have completed the spin-off of Liberty Broadband during the quarter. We remain excited about the opportunities that lie ahead for both Charter Communications and Liberty Broadband." Liberty Media shares fell 0.06% to $38.69 in after-hours trading.