Filing Flows › Atlanta Braves Holdings (BATRA) › Q2 2025
Atlanta Braves Holdings (BATRA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Atlanta Braves Holdings (BATRA) reported revenue of $312M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +562% from the quarter before. Operating margin was 13.4%, net earnings $29.5M (9.4% of revenue).
Atlanta Braves Holdings, Q2 2025: revenue $312M (+10% year over year), operating margin 13.4%, net earnings $29.5M, operating cash flow −$8.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $312M | +562% | +10% |
| Operating profit | $41.8M | — | +68% |
| Net earnings | $29.5M | — | +1% |
| Operating cash flow | −$8.1M | -108% | — |
What changed
Revenue was $312.4M in Q2 2025, up 10% year over year and up 562% from the previous quarter. Baseball was the largest line at 92% of revenue. Baseball added $21.3M year over year (up 8%), 72% of the total change.
Operating profit was $41.8M, a 13.4% margin (up 4.6 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 9% margin then. Total costs grew 5% against revenue growth of 10%. Net earnings were $29.5M, up 1% year over year. The effective tax rate was 29.4%.
Operating cash flow was −$8.1M. Non-cash charges added back $21.3M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $61.5M. Capital expenditures of $74.2M exceeded it, leaving free cash flow of −$82.3M.
Questions
What was Atlanta Braves Holdings' revenue in the second quarter 2025?
Atlanta Braves Holdings (BATRA) reported revenue of $312M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +562% from the quarter before.
Was Atlanta Braves Holdings profitable in the second quarter 2025?
Operating profit was $41.8M (13.4% of revenue) and net earnings $29.5M.