Liberty Media Corporation's Series A shares (FWONA) plummeted 5.68% in pre-market trading on Thursday, following the company's fourth quarter and full year 2024 earnings report.
The media conglomerate, which owns assets including Formula One Group, reported a 2024 net loss attributable to stockholders of $2.06 billion. This was a stark contrast to the net earnings of $761 million in 2023.
While revenue for the year rose slightly to $3.65 billion from $3.57 billion, concerns over Formula One's future direction likely weighed on investor sentiment. Red Bull team boss Christian Horner expressed support for a potential return to louder, V10 engines after 2026, despite the significant investments made in developing the new V6 turbo-hybrid engines.
Toto Wolff, Mercedes team principal, warned against diluting the message around the new sustainable regulations, suggesting talks of major engine changes could be premature. The 2026 engine rules aim to push boundaries in battery technology and introduce 100% sustainable fuel.
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