Liberty Media (FWONA) Operating Expenses (2012 - 2026)

For the trailing twelve months through Jun 30, 2026, Operating Expenses at Liberty Media was $3.81 billion, up 8.4% year-over-year; for FY2025, it came in at $3.91 billion, up 16.0% from FY2024.

• Annual Operating Expenses has increased for three consecutive years, though with a five-year compound annual growth rate of -15.7% (FY2020 to FY2025).
• In prior years, Liberty Media's Operating Expenses was $3.37 billion in FY2024 (+1.8%), $3.31 billion in FY2023 (+9.6%), $3.02 billion in FY2022 (-68.0%) and $9.42 billion in FY2021 (+2.6%).
• Quarterly Operating Expenses has run from a low of -$4.53 billion in Q4 2022 to a high of $2.74 billion in Q3 2022 over five years.
• On a year-over-year basis, Operating Expenses increased in six of the last eight quarters, with growth averaging 7.6%.
• The strongest year-over-year quarter for Operating Expenses in the past five years was Q1 2026, with growth of 25.9%; the weakest was Q1 2024, with a decline of 77.7%.
• According to Business Quant data, Operating Expenses for the three prior quarters was $647 million (Q1 2026), $1.38 billion (Q4 2025) and $936 million (Q3 2025).