Liberty Media Q2 Revenue Jumps 10%

Liberty Media Corporation LSXMA announced results for Liberty SiriusXM Group. Its revenue came in line with the Street estimate.

The company disclosed that its net income was $173 million in the second quarter representing 68 percent year-over-year growth.

Liberty SiriusXM revenue grew 10 percent to $1.2 billion, which was in line with the analysts' predictions. Its revenue was driven by net subscriber growth of 8 percent to reach 30.6 million in the second quarter.

Liberty Media President and CEO, Greg Maffei, opined, "SiriusXM posted outstanding results for the quarter, reaching over 30.6 million subscribers. The company set a quarterly revenue record and once again increased its guidance on July 26th."

On Thursday, the stock closed at $34.15, down $0.15, or 0.44 percent.