Liberty Live's Quint Turns Profitable in the Second Quarter
Quint Adjusted OIBDA reached $11.5 million in the three months ended June 30, 2026, as MotoGP hospitality and new events lifted revenue to $147.1 million.
Liberty Live Holdings (LLYVA), the holding company that owns QuintEvents and a stake in Live Nation, reported Quint Adjusted OIBDA of $11.5 million in the three months ended June 30, 2026, a modest lift from $11.3 million a year earlier, after a first quarter in which the hospitality unit still posted a $2.7 million Adjusted OIBDA loss.
The second-quarter swing marked the first of two consecutive quarters in which Quint’s operating measure was positive. Consolidated Adjusted OIBDA was $8.0 million, versus $5.4 million a year earlier. Corporate and other Adjusted OIBDA loss narrowed to $3.5 million from $5.9 million.
Revenue was $147.1 million, up $8.5 million from $138.6 million a year earlier. The increase was driven primarily by MotoGP, up $6.7 million on a hospitality agreement announced during the year and incremental hospitality and experiential package sales, and by other event revenue, up $5.6 million on new events, including USGA events, and World Cup transportation and hospitality growth at existing events. Those gains were partly offset by a $3.8 million decline in hotel room packages for events that occurred in 2025 but not in 2026.
In the prior quarter, revenue had been $63.6 million, with Formula 1 contributing a $25.7 million year-over-year increase on three events versus two and MotoGP adding $3.2 million, while the NBA declined $12.0 million on venue and team changes. That Formula 1 lift did not repeat in the second quarter; MotoGP and other events carried the top line instead.
Cost of revenue was $116.8 million. The $6.4 million year-over-year increase was attributable to MotoGP, up $5.9 million, and new events, up $3.8 million, partly offset by the $3.8 million hotel-room-package decline. Selling, general and administrative expenses excluding stock-based compensation were $22.3 million. Stock-based compensation was $2.4 million. Depreciation and amortization was $6.5 million. Operating loss was $0.9 million, versus a $2.7 million operating loss a year earlier.
Share of earnings of affiliates, net was $82.5 million, up $11.1 million from $71.4 million a year earlier, primarily attributable to Live Nation. Amortization of excess-basis intangibles, net of related taxes, was $5.7 million. The increase in amortization reflected Liberty Live’s share of Live Nation equity activity that raised excess basis and a cumulative change in the applicable tax rate, partly offset by full amortization of certain historical excess cost amounts. Remaining weighted average useful life of amortizable intangibles was about 5.8 years as of June 30, 2026.
Realized and unrealized losses on financial instruments were $423.6 million, versus $288.7 million a year earlier. Interest expense was $7.5 million. Dividend and interest income was $5.3 million, primarily due to higher invested cash balances from cash transferred from Liberty Media in connection with the Split-Off completed December 15, 2025. Net loss was $268.7 million, versus $180.3 million a year earlier. Income tax benefit was $74.1 million.
Liberty Live beneficially owns approximately 69.6 million shares of Live Nation common stock, Quint, interests in certain private assets, corporate cash and debt obligations. Under ancillary agreements, $2.5 million was reimbursable to Liberty Media during the three months ended June 30, 2026.
Due to the conflict in Iran, Formula 1 announced that the 2026 Bahrain and Saudi Arabian Grands Prix would not take place in April 2026 as originally scheduled, and MotoGP postponed the 2026 Qatar Grand Prix to November 2026, which will have an adverse impact on Quint’s results of operations in 2026. Subsequent to June 30, 2026, Formula 1 announced that Malaysia will host the Bahrain Grand Prix in October. If the conflict in the Middle East persists, additional calendar changes may be necessary.