The odd collection of stocks controlled by John Malone’s Liberty Media are enjoying a nice pop today after the company reported generally upbeat 2Q data. Shares of Liberty Starz are up 5.2% at mid-day. The company says that Starz ended the quarter with 19M subscribers — its highest ever and up 200,000 from March. But Encore was down by 200,000 to 32.9M. The company doesn’t mind: It reported $403M in revenue, up 5% vs the same period last year and beating the $396.1 that analysts expected. The company says it gained $8M from higher prices for its channels, $6M from the subscriber growth, and $3M from sales of home video and licensing rights to its original productions. Meanwhile, shares of Liberty Interactive — which includes QVC — are up 7.8% at mid-day after the company reported a 9% revenue increase to $2.2B, on target with expectations. QVC was up 8% to $1.9B. Sales of accessories, apparel, and home goods in the U.S. were up but jewelry was down. Although the number of transactions fell 4% to 25.7M, that was outweighed by an increase in the average value of each sale to $52.02 from $48.10. QVC plans broadcasts from the LA Live complex that will enable it to “provide a localized look and feel for our West Coast audience during their prime television viewing hours,” says QVC chief Mike George. Elsewhere in Malone-land, Liberty Capital shares are up 4.6% and Liberty Global’s are up 3.5%.
By DAVID LIEBERMAN, Financial Editor | Tuesday August 9, 2011 @ 11:16am EDTTags: Encore, John Malone, Liberty Media, Liberty Media Earnings, QVC, Starz
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This article was printed from http://www.deadline.com/2011/08/liberty-media-says-starz-hits-a-record-19m-subs-in-2q-while-qvc-rebounds/
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