Sirius XM Holdings Inc. reported a challenging quarter with a consolidated loss before income taxes of $2.997 billion for Q3 2024, a stark contrast to the consolidated income before taxes of $370 million in Q3 2023. The company's segment gross profit for Q3 2024 was $1.156 billion, down from $1.227 billion in the same period last year. Subscriber revenue decreased by 5% year-on-year to $1.510 billion, while advertising revenue saw a slight decrease of 2% to $41 million. Equipment revenue also declined by 12% to $43 million. For the nine months ended September 30, 2024, total revenue was $6.511 billion, a 2% decrease from $6.665 billion in the previous year. Sirius XM's subscriber base experienced a decline, with self-pay subscribers decreasing by 1% and paid promotional subscribers by 23%. Pandora and Off-platform's monthly active users decreased...Show More

Sirius XM Holdings Inc. reported a challenging quarter with a consolidated loss before income taxes of $2.997 billion for Q3 2024, a stark contrast to the consolidated income before taxes of $370 million in Q3 2023. The company's segment gross profit for Q3 2024 was $1.156 billion, down from $1.227 billion in the same period last year. Subscriber revenue decreased by 5% year-on-year to $1.510 billion, while advertising revenue saw a slight decrease of 2% to $41 million. Equipment revenue also declined by 12% to $43 million. For the nine months ended September 30, 2024, total revenue was $6.511 billion, a 2% decrease from $6.665 billion in the previous year. Sirius XM's subscriber base experienced a decline, with self-pay subscribers decreasing by 1% and paid promotional subscribers by 23%. Pandora and Off-platform's monthly active users decreased by 6% to approximately 43.7 million, and self-pay subscribers dropped by 5% to approximately 5.9 million. The company declared a quarterly dividend of $0.27 per share, payable on November 21, 2024, to stockholders of record as of November 5, 2024. Looking ahead, Sirius XM anticipates challenges in subscriber revenue due to a decline in average subscribers and the average price of subscriptions. However, the company expects an increase in Sirius XM advertising revenue and a flat performance in equipment revenue. Pandora and Off-platform's subscriber revenues are expected to remain relatively stable, while advertising revenue is projected to increase due to growth in podcast and programmatic revenue.