​

  ​ ​ ​

1st

  ​ ​ ​

2nd

  ​ ​ ​

3rd

  ​ ​ ​

4th

​

​

Quarter

​

Quarter

​

Quarter

​

Quarter

​

​

amounts in millions, except per share amounts

2025

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

447

1,341

1,085

1,609

​

Operating income (loss)

​

$

(67)

280

158

206

​

Net earnings (loss) from continuing operations

​

$

17

​

386

​

63

​

130

​

Net earnings (loss)

​

$

5

204

13

333

​

Net earnings (loss) from continuing operations attributable to Liberty stockholders:

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

22

​

382

​

66

​

133

​

Liberty Live common stock

​

$

(5)

​

4

​

(3)

​

(3)

​

Net earnings (loss) from discontinued operations attributable to Liberty stockholders:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(12)

​

(182)

​

(50)

​

203

​

Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

0.09

​

1.53

​

0.26

​

0.53

​

Liberty Live common stock

​

$

(0.05)

​

0.05

​

(0.03)

​

(0.03)

​

Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(0.13)

​

(1.98)

​

(0.55)

​

2.20

​

Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

0.05

​

1.52

​

0.24

​

0.39

​

Liberty Live common stock

​

$

(0.05)

​

0.05

​

(0.03)

​

(0.03)

​

Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(0.13)

​

(1.98)

​

(0.55)

​

2.20

​

​

  ​ ​ ​

1st

  ​ ​ ​

2nd

  ​ ​ ​

3rd

  ​ ​ ​

4th

​

​

Quarter

​

Quarter

​

Quarter

​

Quarter

​

​

amounts in millions, except per share amounts

2024:

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

587

988

911

1,167

​

Operating income (loss)

​

$

95

59

110

23

​

Net earnings (loss) from continuing operations

​

$

100

​

4

​

118

​

(266)

​

Net earnings (loss)

​

$

245

507

(2,870)

(357)

​

Net earnings (loss) from continuing operations attributable to Liberty stockholders:

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

77

​

24

​

117

​

(248)

​

Liberty Live common stock

​

$

23

​

(20)

​

1

​

(16)

​

Net earnings (loss) from discontinued operations attributable to Liberty stockholders:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(96)

​

154

​

14

​

(91)

​

Liberty SiriusXM common stock

​

$

199

​

299

​

(2,500)

​

—

​

Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

0.33

​

0.10

​

0.48

​

(1.00)

​

Liberty Live common stock

​

$

0.25

​

(0.22)

​

0.01

​

(0.17)

​

Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(1.04)

​

1.67

​

0.15

​

(0.99)

​

Liberty SiriusXM common stock

​

$

0.61

​

0.91

​

(7.65)

​

NA

​

Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Formula One common stock

​

$

0.32

​

0.10

​

0.48

​

(0.99)

​

Liberty Live common stock

​

$

0.25

​

(0.22)

​

0.01

​

(0.17)

​

Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share:

​

​

​

​

​

​

​

​

​

​

Liberty Live common stock

​

$

(1.04)

​

1.67

​

0.15

​

(0.99)

​

Liberty SiriusXM common stock

​

$

0.52

​

0.60

​

(7.65)

​

NA

​