Sirius XM Holdings reported Q2 2024 total revenue of $2.18 billion, down 3% year-over-year, while net income increased 2% to $316 million. The decline in revenue was primarily driven by a 5% decrease in Sirius XM subscriber revenue to $1.52 billion, partially offset by stable Pandora and Off-platform revenue of $538 million. Adjusted EBITDA remained flat at $702 million.The company's subscriber base continued to face pressure, with Sirius XM self-pay subscribers declining by 100,000 in Q2 and total subscribers decreasing by 173,000 to 33.3 million. Pandora's monthly active users fell 5% year-over-year to 45.1 million, while its subscriber count dropped 5% to 6.0 million. Operating expenses decreased 6% to $1.67 billion, helped by lower general and administrative costs.Free cash flow improved 6% to $343 million despite lower revenue, driven by reduced cash taxes and operating costs. The company maintained its quarterly dividend of $0.0266 per share and expects to complete its merger with Liberty Media in September 2024, which will result in the companies operating independently after the transaction closes.

Sirius XM Holdings reported Q2 2024 total revenue of $2.18 billion, down 3% year-over-year, while net income increased 2% to $316 million. The decline in revenue was primarily driven by a 5% decrease in Sirius XM subscriber revenue to $1.52 billion, partially offset by stable Pandora and Off-platform revenue of $538 million. Adjusted EBITDA remained flat at $702 million.The company's subscriber base continued to face pressure, with Sirius XM self-pay subscribers declining by 100,000 in Q2 and total subscribers decreasing by 173,000 to 33.3 million. Pandora's monthly active users fell 5% year-over-year to 45.1 million, while its subscriber count dropped 5% to 6.0 million. Operating expenses decreased 6% to $1.67 billion, helped by lower general and administrative costs.Free cash flow improved 6% to $343 million despite lower revenue, driven by reduced cash taxes and operating costs. The company maintained its quarterly dividend of $0.0266 per share and expects to complete its merger with Liberty Media in September 2024, which will result in the companies operating independently after the transaction closes.