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L ,,, Liberty Media Returns to Profit on Revenue
Monday May 9, 4:43 pm ET
Liberty Media Returns to Profit in 1Q Amid Higher Revenue at Various Subsidiaries


ENGLEWOOD, Colo. (AP) -- Liberty Media Corp. said higher revenue at various subsidiaries helped the holding company return to a profit in the latest quarter from a loss the previous year.
The Englewood-based company on Monday said it earned $254 million, or 9 cents a share, on revenue of $1.99 billion in the first quarter. In the previous year, it lost $10 million, or less than a penny a share, on revenue of $1.75 billion.

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Analysts were expecting earnings of 2 cents a share, according to a survey by Thomson Financial.

Liberty Media also provided financial information for three of its privately held assets on a stand-alone basis.

Total revenue at QVC Inc. rose to $1.46 billion from $1.28 billion a year earlier, reflecting higher revenue from the shopping channel's domestic and international operations.

QVC's operating income increased to $200 million from $153 million, as the unit's reach expanded both domestically and overseas. Liberty owns 98.7 percent of the unit.

Liberty Media said Starz Entertainment Group LLC's first-quarter revenue climbed to $254 million from $232 million, but operating income fell to $36 million from $53 million.

Subscription units to pay channels operated by Starz Entertainment Group rose to 173.8 million from 154.3 million. The increase reflects higher counts at Starz, Encore, Thematic Multiplex and other cable services. Liberty owns 100 percent of Starz Entertainment.

Total revenue at Discovery Communications, which Liberty owns 50 percent of, rose to $601 million from $527 million. Operating income at the unit increased to $97 million from $78 million. Discovery's subscription units rose to 1.24 billion from 1.07 billion.

Liberty Media's Class A shares rose 10 cents to close at $10.50 on the New York Stock Exchange.





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