Sirius XM Stock Drops After Flat Q2 Revenue, Self-pay Subs at 34M
Portfolio Pulse from Anusuya Lahiri
Sirius XM Holdings Inc reported flat Q2 FY23 revenue of $2.25 billion, in line with consensus. Subscriber revenue remained flat at $1.73 billion, while advertising revenue decreased by 1.5% to $445 million. Self-pay subscribers decreased by 132,000 to 34 million. The company's gross margin was flat at 61%, while Pandora segment advertising revenue decreased 1% to $400 million. The company reiterated its FY23 revenue outlook of $9.0 billion.
August 04, 2023 | 8:07 am
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NEUTRAL IMPACT
Sirius XM reported flat Q2 FY23 revenue and a decrease in self-pay subscribers. The company's FY23 revenue outlook was reiterated at $9.0 billion.
Sirius XM's flat revenue and decrease in self-pay subscribers indicate a lack of growth, which could negatively impact investor sentiment. However, the company's reiteration of its FY23 revenue outlook may provide some reassurance to investors, potentially offsetting any negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100