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SiriusXM Loses 173,000 Subscribers in Second Quarter, Stock Sinks 6% https://t.co/cNunP2ooEo
Breaking News: Sirius XM reports Q2 results with revenue of $2.178B and a loss of 423K subscribers, causing stock to fall. The Liberty Media deal expected to close in September. Stay tuned for updates. #SiriusXM #Q2results #LibertyMedia $SIRI
🔵 SIRIUSXM'S SECOND-QUARTER SUBSCRIPTION LOSS NARROWS ON STRONG CONTENT DEMAND Full Story → https://t.co/TY2ju1Es1W SiriusXM posted a lower-than-expected drop in subscribers who directly pay for its satellite radio service, helped by steady demand for its content that…
SiriusXM reported its second-quarter 2024 financial results, revealing a revenue of $2.18 billion, ad revenue of $443 million, and a net income of $316 million, with a diluted EPS of $0.08. The company also reported an adjusted EBITDA of $702 million and a free cash flow of $343 million. Despite these financial gains, SiriusXM experienced a significant loss in subscribers, with a drop of 173,000 satellite radio subscribers and 41,000 Pandora subscribers. The total subscriber loss amounted to 423,000, which contributed to a 6% decline in the company's stock. The Liberty Media deal is expected to close in September.