Filing Flows › Atlanta Braves Holdings (BATRA) › Q3 2025
Atlanta Braves Holdings (BATRA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Atlanta Braves Holdings (BATRA) reported revenue of $312M for the third quarter 2025 (Q3 2025), +7% from a year earlier and -0.3% from the quarter before. Operating margin was 12.5%, net earnings $30.1M (9.7% of revenue).
Atlanta Braves Holdings, Q3 2025: revenue $312M (+7% year over year), operating margin 12.5%, net earnings $30.1M, operating cash flow −$88.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $312M | -0.3% | +7% |
| Operating profit | $38.9M | -7% | +508% |
| Net earnings | $30.1M | +2% | +200% |
| Operating cash flow | −$88.8M | — | — |
What changed
Revenue was $311.5M in Q3 2025, up 7% year over year and roughly flat from the previous quarter. Baseball was the largest line at 91% of revenue. Baseball added $11.1M year over year (up 4%), 53% of the total change.
Operating profit was $38.9M, a 12.5% margin (up 10.3 points year over year). Of the extra revenue versus a year earlier, 156% reached operating profit, above the 2% margin then. Total costs fell 4% while revenue rose 7%. Net earnings were $30.0M, up 199% year over year. The effective tax rate was 28.0%.
Operating cash flow was −$88.8M. Non-cash charges added back $23.5M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items used $147.1M.
Questions
What was Atlanta Braves Holdings' revenue in the third quarter 2025?
Atlanta Braves Holdings (BATRA) reported revenue of $312M for the third quarter 2025 (Q3 2025), +7% from a year earlier and -0.3% from the quarter before.
Was Atlanta Braves Holdings profitable in the third quarter 2025?
Operating profit was $38.9M (12.5% of revenue) and net earnings $30.1M.