Liberty Media Q2 2026: Net income falls 97.5% to $5.0M as Middle East race cancellations cut revenue 30%

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

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  Two Formula 1 races in Bahrain and Saudi Arabia canceled due to Middle East conflict, reducing the 2026 calendar from 24 to 22 events as of June 30 (later revised to 23 with Malaysia hosting Bahrain GP in October). Primary F1 revenue fell $410M in Q2 and $233M in H1 due to fewer events and lower pro-rata recognition of season-based fees.

  MD&A: Middle East race cancellations verify on EDGAR →
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  Consolidated operating income fell 69% to $88M in Q2 2026 (from $280M in Q2 2025) and 29% to $152M in H1 2026 (from $213M in H1 2025), driven by Formula 1's calendar variance partially offset by MotoGP's $37M Q2 operating income following its July 2025 acquisition.

  MD&A: Consolidated operating income verify on EDGAR →
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  Net earnings from continuing operations collapsed 96% to $8M in Q2 2026 (from $386M in Q2 2025) and 85% to $61M in H1 2026 (from $403M in H1 2025), reflecting lower operating income, higher interest expense on MotoGP debt, and a 76% effective tax rate driven by settlements with tax authorities and non-deductible losses.

  MD&A: Net earnings from continuing operations verify on EDGAR →