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Sirius XM | 8-K: SiriusXM Reports Fourth Quarter and Full-Year 2023 Operating and Financial Results

SEC announcement ·  Feb 1 21:01
Summary by Futu AI
Sirius XM Holdings Inc. reported its financial results for the fourth quarter and full year of 2023 on February 1, 2024. The company announced a full-year revenue of $8.95 billion and a net income of $1.26 billion, with a diluted EPS of $0.32. Despite a slight decline in adjusted EBITDA and free cash flow compared to the previous year, the company highlighted its strategic content investments and the launch of its next-generation platform and new SiriusXM app as key drivers for future growth. SiriusXM ended the year with approximately 34 million total subscribers, despite a decrease in self-pay subscribers. The company also provided financial guidance for 2024, projecting revenues of approximately $8.75 billion, adjusted EBITDA of $2.70 billion, and free cash flow of $1.20 billion. These projections do not account for the effects of the proposed transaction with Liberty Media, expected to close in the third quarter of 2024. The report also included comprehensive income statements, balance sheets, and statements of cash flows for the year ended December 31, 2023.
Sirius XM Holdings Inc. reported its financial results for the fourth quarter and full year of 2023 on February 1, 2024. The company announced a full-year revenue of $8.95 billion and a net income of $1.26 billion, with a diluted EPS of $0.32. Despite a slight decline in adjusted EBITDA and free cash flow compared to the previous year, the company highlighted its strategic content investments and the launch of its next-generation platform and new SiriusXM app as key drivers for future growth. SiriusXM ended the year with approximately 34 million total subscribers, despite a decrease in self-pay subscribers. The company also provided financial guidance for 2024, projecting revenues of approximately $8.75 billion, adjusted EBITDA of $2.70 billion, and free cash flow of $1.20 billion. These projections do not account for the effects of the proposed transaction with Liberty Media, expected to close in the third quarter of 2024. The report also included comprehensive income statements, balance sheets, and statements of cash flows for the year ended December 31, 2023.
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