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Sirius XM (SIRI) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
SIRISirius XM(SIRI) ZACKS·2024-10-31 14:36

Core Viewpoint - Sirius XM reported a revenue decline of 4.4% year-over-year for the quarter ended September 2024, with an EPS of -0.84comparedto0.84 compared to 0.90 in the same quarter last year, indicating significant underperformance against analyst expectations [1]. Financial Performance - Revenue for the quarter was 2.17billion,missingtheZacksConsensusEstimateof2.17 billion, missing the Zacks Consensus Estimate of 2.19 billion by 0.91% [1]. - The EPS surprise was -212.00%, with the consensus EPS estimate being 0.75[1].SubscriberMetrics−Netadditionsofself−paysubscriberswere14,exceedingtheestimated−5[3].−EndingsubscribersforPandoraandOff−platformwere5,875,slightlyabovetheestimateof5,873[3].−EndingsubscribersforSiriusXMwere33,156,belowtheestimateof33,220[3].AverageRevenuePerUser(ARPU)−ARPUforSiriusXMwas0.75 [1]. Subscriber Metrics - Net additions of self-pay subscribers were 14, exceeding the estimated -5 [3]. - Ending subscribers for Pandora and Off-platform were 5,875, slightly above the estimate of 5,873 [3]. - Ending subscribers for Sirius XM were 33,156, below the estimate of 33,220 [3]. Average Revenue Per User (ARPU) - ARPU for Sirius XM was 15.16, slightly below the estimate of 15.24[3].RevenueBreakdown−TotalrevenueforSiriusXMwas15.24 [3]. Revenue Breakdown - Total revenue for Sirius XM was 1.63 billion, compared to the average estimate of 1.64billion,representingayear−over−yeardeclineof5.51.64 billion, representing a year-over-year decline of 5.5% [3]. - Total revenue for Pandora and Off-platform was 544 million, below the average estimate of 559.63million,withayear−over−yearchangeof−1.1559.63 million, with a year-over-year change of -1.1% [3]. - Subscriber revenue for Sirius XM was 1.51 billion, compared to the estimate of 1.52billion,reflectinga−5.51.52 billion, reflecting a -5.5% change year-over-year [3]. - Advertising revenue for Sirius XM was 41 million, slightly below the estimate of 41.85million,withayear−over−yearchangeof−2.441.85 million, with a year-over-year change of -2.4% [3]. - Equipment revenue for Sirius XM was 43 million, compared to the average estimate of 46.78million,representinga−12.246.78 million, representing a -12.2% year-over-year change [3]. - Subscriber revenue for Pandora and Off-platform was 135 million, matching the estimate of 135.74million,withayear−over−yearincreaseof2.3135.74 million, with a year-over-year increase of 2.3% [3]. - Advertising revenue for Pandora and Off-platform was 409 million, below the estimate of $423.89 million, reflecting a -2.2% year-over-year change [3]. Stock Performance - Sirius XM shares have returned +15.9% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].