Sirius XM Q3 Earnings: Net Income Hit by $3.4 Billion Liberty Impairment Charge, Revises Annual Outlook By 1%
Portfolio Pulse from Anusuya Lahiri
Sirius XM Holdings Inc reported a Q3 revenue decline of 4% to $2.17 billion, missing estimates. Adjusted EPS beat expectations. The company faced a $3.36 billion impairment charge related to Liberty Media, resulting in a net loss of $2.96 billion. Sirius XM revised its annual revenue outlook slightly downwards.
October 31, 2024 | 6:02 pm
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NEUTRAL IMPACT
Liberty Media's split-off from Sirius XM and the subsequent merger have resulted in Sirius XM becoming an independent public company.
The completion of Liberty Media's split-off from Sirius XM is a significant corporate action, but the direct short-term impact on Liberty Media's stock price is less clear.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Liberty Media's split-off from Sirius XM and the subsequent merger have resulted in Sirius XM becoming an independent public company.
The completion of Liberty Media's split-off from Sirius XM is a significant corporate action, but the direct short-term impact on Liberty Media's stock price is less clear.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Sirius XM reported a 4% revenue decline and a $3.36 billion impairment charge, leading to a net loss. The company revised its annual revenue outlook slightly downwards.
Sirius XM's financial results were negatively impacted by a significant impairment charge, leading to a net loss. The revenue decline and downward revision of the annual outlook suggest potential short-term pressure on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100