Sirius XM backs FY23 revenue view of $9B, consensus $9.02B

The company reiterated its full-year 2023 guidance for revenue while increasing its full-year 2023 guidance for adjusted EBITDA, and free cash flow as follows: total revenue of approximately $9.0B; adjusted EBITDA of approximately $2.75B; and free cash flow of approximately $1.1B. Thomas Barry, who assumes the role of Chief Financial Officer of SiriusXM on April 28, said: "Our strategic approach to invest, enhance, and innovate in an otherwise challenging environment underscores the strength of our business, and we expect to improve our financial and subscriber performance quarterly for the remainder of the year. It is an exciting time to be at SiriusXM; in my new role, I look forward to working with this dedicated team to improve efficiencies, build on our extremely solid business model, and continue our tradition of delivering top value to our listeners and stockholders."