Liberty Media, the holding company controlled by John Malone which includes SiriusXM (and its Live Nation subsidiary), Formula One and the Atlanta Braves baseball team, reported solid first-quarter earnings on Friday, bolstered by SiriusXM and “record-breaking demand” for Live Nation events.
Liberty posted revenue of $2.19 billion in Q1, with an operating income of $484 million, up 111 percent from the same quarter a year earlier. Much of that was due to the performance of SiriusXM and its subsidiaries, with CEO Greg Maffei saying that the satellite radio company delivered “robust financial results while navigating well through challenging macroeconomic conditions and supply chain issues.