Liberty Media reports Q1 revenue $1.01B, consensus $1.05BSirius XM Liberty Media (LMCA) adjusted OIBDA increased by $32M to $294M and operating income increased $4M to $155M. The increase in revenue, adjusted OIBDA and operating income was primarily due to the inclusion of a full quarter of SiriusXM's (SIRI) results combined with strong operating results at SiriusXM, Liberty said.
Sirius XM buyback announcement positive but expected, says FBR Capital FBR Capital said Sirius XM's announcement last night of a $2B expansion of its buyback authorization is a positive, but is also consistent with the firm's expectations. FBR adds that the timing of the announcement suggests the company have been opportunistic with its repurchases during the recent pullback in the market. The firm keeps an Outperform rating on Sirius shares.