Sirius XM Faces Challenges with Q3 Losses in 2024
Company Announcements

Sirius XM Faces Challenges with Q3 Losses in 2024

An announcement from Sirius XM Holdings ( (SIRI) ) is now available.

SiriusXM reported a challenging third quarter in 2024, with a net loss of $2.96 billion due to a non-cash impairment charge related to Liberty Media’s transaction. Despite a 4% drop in revenue to $2.17 billion, the company maintained a strong adjusted EBITDA margin of 32%. SiriusXM added 14,000 self-pay subscribers, but faced a decline in average revenue per user. The company is focused on long-term growth by enhancing its subscription and advertising offerings, although it revised its full-year revenue guidance to $8.675 billion.

For an in-depth examination of SIRI stock, go to TipRanks’ Stock Analysis page.

Related Articles
TheFlySirius XM price target lowered to $37 from $40 at Pivotal Research
TipRanks Auto-Generated NewsdeskSirius XM Faces Legal Challenges: Potential Impact on Financial Stability and Strategy
TipRanks Auto-Generated NewsdeskSiriusXM Reports Q3 2024 Financial Results
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App