Sirius XM Q2 Earnings: Subscriber Loss, Liberty Media Transaction to Close in September, Stock Falls
Portfolio Pulse from Anusuya Lahiri
Sirius XM Holdings Inc (NASDAQ: SIRI) reported a 3% decline in Q2 2024 revenue to $2.178 billion, missing analyst estimates. Adjusted EPS was in line with expectations. The company saw a decrease in self-pay subscribers and ARPU, while Pandora's segment showed improved gross margins. Sirius XM reiterated its FY24 outlook and announced the closing of a transaction with Liberty Media in September. The stock has fallen 31% over the past year and was recently downgraded by Citi.
August 01, 2024 | 3:43 pm
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Sirius XM reported a 3% decline in Q2 2024 revenue, missing analyst estimates. The company saw a decrease in self-pay subscribers and ARPU, while Pandora's segment showed improved gross margins. The stock has fallen 31% over the past year and was recently downgraded by Citi.
The decline in revenue and subscriber numbers, along with a decrease in ARPU, are negative indicators for Sirius XM. The stock's 31% decline over the past year and recent downgrade by Citi further suggest a bearish outlook. However, the improved margins in the Pandora segment and the upcoming transaction with Liberty Media provide some positive aspects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100