Filing Flows › Liberty Media (FWONA) › Q1 2025
Liberty Media (FWONA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Liberty Media (FWONA) reported revenue of $447M for the first quarter 2025 (Q1 2025), -24% from a year earlier and -62% from the quarter before. Operating margin was -15.9%, net earnings $5.0M (1.1% of revenue).
Liberty Media, Q1 2025: revenue $447M (-24% year over year), operating margin -15.9%, net earnings $5.0M, operating cash flow $391M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $447M | -62% | -24% |
| Operating profit | −$71.0M | — | — |
| Net earnings | $5.0M | — | — |
| Operating cash flow | $391M | — | -1% |
| Free cash flow | $358M | — | -3% |
What changed
Revenue was $447.0M in Q1 2025, down 24% year over year and down 62% from the previous quarter. Primary was the largest line at 71% of revenue. Primary lost $144.0M year over year (down 31%), 103% of the total change.
Operating costs exceeded revenue by $71.0M, an operating margin of -15.9%. Total costs grew 5% against a revenue fall of 24%. Net earnings were $5.0M, down 98% year over year. Non-operating items added $47.0M, -196% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $391.0M (down 1% year over year), 7820% of net earnings. Non-cash charges added back $77.0M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $307.0M. Capital expenditures of $33.0M left free cash flow of $358.0M.
Questions
What was Liberty Media's revenue in the first quarter 2025?
Liberty Media (FWONA) reported revenue of $447M for the first quarter 2025 (Q1 2025), -24% from a year earlier and -62% from the quarter before.
Was Liberty Media profitable in the first quarter 2025?
Operating loss was $71.0M (-15.9% of revenue) and net earnings $5.0M.
Source: Liberty Media 10-Q on SEC EDGAR.