Sirius Xm Holdings ( (SIRI) ) has released its Q3 earnings. Here is a breakdown of the information Sirius Xm Holdings presented to its investors.
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SiriusXM is the leading audio entertainment company in North America, offering a diverse range of content across music, talk, news, and sports through its subscription service and the ad-supported and premium music streaming services of Pandora.
In the third quarter of 2024, SiriusXM reported a total revenue of $2.17 billion, marking a 4% decline year-over-year. The company recorded a significant net loss of $2.96 billion due to a non-cash impairment charge related to its transaction with Liberty Media, although this did not affect its cash flow or ongoing operations.
Key financial metrics include an adjusted EBITDA of $693 million with a 32% margin, and a free cash flow of $93 million, which was impacted by transaction-related expenses. SiriusXM added 14,000 self-pay net subscribers during the quarter, and while revenue guidance for the full year 2024 has been reduced, the company reaffirmed its adjusted EBITDA and free cash flow guidance.
SiriusXM’s management remains optimistic about the company’s future, focusing on strengthening its subscription business, enhancing advertising offerings, and optimizing costs. Despite the challenges, the company continues to innovate in content and technology to deliver compelling audio experiences.
Looking ahead, SiriusXM aims to leverage its unique position in the media and entertainment industry to achieve long-term growth and create value for its investors, while maintaining a disciplined approach to financial management.
