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Sirius XM Holdings Inc SIRI Stock Quote

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NASDAQ:SIRI

Morningstar‘s Stock Analysis SIRI

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Sirius XM Posts Another Mixed Quarter; Strongest Satellite Net Adds in Nearly 2 Years

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Sirius XM reported a mixed third quarter, as revenue met and EBITDA missed FactSet consensus. The SiriusXM service added 138,000 self-pay customers in the quarter, swinging the 2022 total to a gain for the year. Despite posting the best net addition quarter since the fourth quarter of 2020, management kept its 2022 subscriber guidance at positive net additions and remained unwilling to provide a target. Even with the weak advertising market, the firm reiterated its financial targets for 2022, with cost-cutting offsetting the potential loss of ad revenue. We are maintaining our $8.25 FVE.

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Key Statistics SIRI

Company Profile SIRI

Business Description

SiriusXM Holdings is now composed of two businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee. The firm’s radios come preinstalled on a wide range of light vehicles in the U.S. and Canada. The firm acquired Pandora Media in February 2019 via an all-stock transaction. Pandora is a streaming music platform that offers an ad-supported radio option and a paid on-demand service. Liberty Media owns 80% of SiriusXM, traded through its Liberty SiriusXM Group tracking stock.

Contact
1221 Avenue of the Americas, 35th Floor
New York, NY, 10020
T +1 212 584-5100
Industry Entertainment
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 5,590

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