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Formula 1 pockets $744m in revenue in second quarter 2022
The Formula One Group announced on Friday that it had generated a healthy $744 million in revenue in the second quarter of 2022, an approximate 49 per cent increase compared to Q2 2021. The sport's finances have been on a steady recovery path since last year after a lean period caused by the global Covid-19 pandemic. Formula 1's latest numbers, added to the $360 million produced in the first quarter of 2022, bring Grand Prix racing's six-month revenue to $1.104 billion. Looking at the sport's bottom line, operating income clocked in at $49 million for the quarter which compares to a loss of $43 million incurred during the same three-month period in 2021. "The Formula 1 2022 season...
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