Filing Flows › Liberty Media (FWONA) › Q3 2026
Liberty Media (FWONA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Liberty Media (FWONA) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), +13% from a year earlier and +31% from the quarter before. Operating margin was 19.3%, net earnings $163M (13.3% of revenue).
Liberty Media, Q3 2026: revenue $1.2B (+13% year over year), operating margin 19.3%, net earnings $163M, operating cash flow $382M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +31% | +13% |
| Operating profit | $237M | +169% | +50% |
| Net earnings | $163M | 33× | 13× |
| Operating cash flow | $382M | +21% | +106% |
| Free cash flow | $337M | +24% | +85% |
What changed
Revenue was $1.2B in Q3 2026, up 13% year over year and up 31% from the previous quarter. Primary was the largest line at 84% of revenue. Primary added $0.15B year over year (up 17%), 105% of the total change. Other declined 4%.
Operating profit was $0.24B, a 19.3% margin (up 4.8 points year over year). Of the extra revenue versus Q3 2025, 56% reached operating profit, above the 15% margin then. Total costs grew 7% against revenue growth of 13%. The fastest-growing cost line was SG&A (+12%). Net earnings were $0.16B, up 1154% year over year. The effective tax rate was 33.6%.
Operating cash flow was $0.38B (up 106% year over year), 236% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.04B left free cash flow of $0.34B.
Questions
What was Liberty Media's revenue in the third quarter 2026?
Liberty Media (FWONA) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), +13% from a year earlier and +31% from the quarter before.
Was Liberty Media profitable in the third quarter 2026?
Operating profit was $237M (19.3% of revenue) and net earnings $163M.
Source: Liberty Media 10-Q on SEC EDGAR.