SiriusXM Q3 Net Income Rises 7% to $317 Million on Subscriber Gains; Company Raises Full-Year Guidance
SiriusXM reported third-quarter results on October 29: revenue dipped 0.3 percent to $2.15 billion, while net income rose 7 percent to $317 million and adjusted earnings of $0.78 a share beat analyst estimates. The stock rose nearly 5 percent on the day of the report.
The satellite service added 5,000 net self-pay subscribers in the quarter, reversing a loss of 40,000 a year earlier, ending with 31.3 million self-pay subscribers and roughly 33 million total subscribers. Monthly churn improved to 1.5 percent, and average listening time grew 5 percent year over year.
Pandora and off-platform revenue was essentially flat at $549 million, though Pandora's paid subscribers slipped to 5.5 million and monthly active users fell to 38.8 million, with ad-supported listening hours down about 10 percent.
The company raised its full-year guidance to about $8.55 billion in revenue and $2.65 billion in adjusted EBITDA, with free cash flow of about $1.4 billion. CEO Jennifer Witz said the company is prioritizing retention and revenue over aggressive acquisition, while warning that fourth-quarter self-pay subscriber trends will be more challenging.
Source: GSM · USA (original Chinese edition)
Photo: 图：车载接收机上显示的SiriusXM卫星广播界面（资料图）。Praiselightmedia摄，CC BY-SA 4.0，经Wikimedia Commons。 / The SiriusXM interface displayed on a car receiver (file photo). Photo by Praiselightmedia, CC BY-SA 4.0, via Wikimedia Commons.
