Sirius XM reported a net loss of $2.96 billion in Q3 2024, primarily due to a $3.4 billion impairment charge related to goodwill and investments. Total revenue declined 4% year-over-year to $2.17 billion, with Sirius XM subscriber revenue down 5% to $1.51 billion and Pandora advertising revenue dropping 2% to $409 million.The company's subscriber base continued to shrink, with Sirius XM ending Q3 with 33.2 million subscribers, down 813,000 year-over-year. Self-pay subscriber net additions improved but remained negative at 14,000, while paid promotional subscribers decreased by 114,000. Average self-pay monthly churn held steady at 1.6%.Management maintained focus on operational efficiency with adjusted EBITDA of $693 million, down 7% year-over-year. The company generated free cash flow of $93 million and declared a quarterly dividend of $0.27 per share. Looking ahead, Sirius XM expects subscriber revenues to decrease due to declining average subscribers and subscription prices.

Sirius XM reported a net loss of $2.96 billion in Q3 2024, primarily due to a $3.4 billion impairment charge related to goodwill and investments. Total revenue declined 4% year-over-year to $2.17 billion, with Sirius XM subscriber revenue down 5% to $1.51 billion and Pandora advertising revenue dropping 2% to $409 million.The company's subscriber base continued to shrink, with Sirius XM ending Q3 with 33.2 million subscribers, down 813,000 year-over-year. Self-pay subscriber net additions improved but remained negative at 14,000, while paid promotional subscribers decreased by 114,000. Average self-pay monthly churn held steady at 1.6%.Management maintained focus on operational efficiency with adjusted EBITDA of $693 million, down 7% year-over-year. The company generated free cash flow of $93 million and declared a quarterly dividend of $0.27 per share. Looking ahead, Sirius XM expects subscriber revenues to decrease due to declining average subscribers and subscription prices.