Liberty Media Corporation - Liberty Formula One Series C (FWONK) has received a Zacks Rank #2 (Buy) upgrade, indicating increased confidence in the company's potential earnings. This could lead to a rise in the stock price soon.
Liberty Media Corporation - Liberty Formula One Series C (FWONK) reported quarterly earnings of $0.48 per share, which is higher than the Zacks Consensus Estimate of $0.30 per share. This is an increase compared to earnings of $0.39 per share from the same period last year.
Formula One Group (NASDAQ: FWONK) is set to grow due to increasing sports media rights, a larger race schedule, and improved ways to earn from sponsorships and digital platforms. Its unique commercial rights, strong intellectual property control, and smart acquisitions like Moto-GP give it a competitive advantage and opportunities for growth. However, there are risks such as possible changes in profit-sharing agreements for teams, dependence on government race fees, and fluctuations in advertising sponsorship growth.
The Formula One Group (NASDAQ:FWONK) will hold its Q2 2024 Results Conference Call on August 8, 2024, at 10:00 AM ET. Key participants from the company include Clare Adams, Greg Maffei, Brian Wendling, Stefano Domenicali, Derek Schiller, and Renee Wilm. Various analysts from firms like Goldman Sachs, JPMorgan, and Morgan Stanley will also join the call, which will be recorded.
Sylvia Jablonski, Defiance ETFs, joins ‘Power Lunch' to discuss three stocks: Kellanova, Liberty Media Formula One and Zscaler.
Liberty Media (FWONK) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.35 per share a year ago.
Liberty Media (FWONK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Renewed revenue growth has been driven by a strategic initiative to target new customers. Netflix's Drive to Survive, new tracks globally, and digital expansion are key growth drivers that have been highly successful.