Sirius XM Q3 Earnings: Net Income Hit by $3.4 Billion Liberty Impairment Charge, Revises Annual Outlook By 1%

Sirius XM Holdings Inc (NASDAQ: SIRI) reported a fiscal third-quarter 2024 revenue decline of 4% year-on-year to $2.17 billion, marginally missing the analyst consensus estimate of $2.19 billion. Adjusted EPS of $1.17 beat the analyst consensus estimate of $0.78. 

Subscriber revenue was $1.65 billion in the quarter, down from $1.73 billion a year ago. Advertising revenue was $450 million, down from $460 million a year ago.

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For the year, SiriusXM self-pay subscribers decreased by 314,000 to 31.5 million total subscribers, a 1% decline year over year.

The self-pay monthly churn remained firm Y/Y at 1.6% for the quarter. SiriusXM self-pay subscribers increased by 110,000 in the quarter.

SiriusXM segment revenue declined 5% year over year to $1.63 billion during the quarter, driven by a lower average base of self-pay subscribers and a ...