Core Insights - Sirius XM has announced layoffs affecting approximately 3% of its workforce, translating to around 160 employees, as part of a broader initiative to enhance efficiency within the tech sector [1][2] - Following the announcement, Sirius XM's stock saw a modest increase of over 2%, indicating a positive market reaction to the layoffs [1] - The company had previously laid off about 475 employees last year, suggesting a pattern of workforce reduction aimed at improving profitability [2] Company Performance - Sirius XM is currently profitable, with an attractive valuation multiple of 15 times earnings and a dividend yield of 2.2% [2] - The decision to cut jobs may indicate some inefficiencies within the company's business model, as the market appears to respond favorably to the news [2] Market Reaction - The overall market reaction to layoffs in the tech sector has been mixed, and investors should monitor how Sirius XM's growth rates are impacted by these recent cuts in the upcoming quarters [3]

Satellite audio firm SiriusXM is trimming its global workforce by about 3% in an effort to become “more efficient, agile, and flexible,” CEO Jennifer Witz wrote in a memo to employees. The company last year unveiled a significant revamp of its app and made a number of talent deals in a push into podcasts. “We made significant progress on the transformation of our business in 2023, but we have just begun to scratch the surface of what is possible here at SiriusXM,” Witz wrote in the memo. “To continue on ou ...

After a glance at Berkshire Hathaway's public equities portfolio, you'll quickly realize that just a handful of businesses dominate. I'm talking about Apple, Bank of America, and American Express, which -- combined -- constitute an astounding 63.8% of its holdings.But there are also little-known positions like Sirius XM Holdings (SIRI -1.80%). This audio entertainment stock makes up a tiny portion of the overall portfolio and has fallen 15% in the last five years.Despite the Oracle of Omaha and his team's s ...

When it was reported in November that Warren Buffett's Berkshire Hathaway purchased shares of satellite radio company Sirius XM Holdings (SIRI -1.80%), the media company's stock popped more than 10%. The sudden jump in share price is understandable, considering that up to that point, the stock had been struggling, down around 16% for the year.Even with this pop, Sirius XM stock is down about 35% from its summer 2023 high, likely making some investors wonder if it is a buy now. Let's look at Sirius XM's pros ...

Sirius XM Holdings (SIRI) reported fourth-quarter 2023 earnings of 9 cents per share, which beat the Zacks Consensus Estimate by 28.57% and remained flat year over year.Total revenues on a reported basis gained 0.2% year over year to $2.28 billion but missed the consensus mark by 0.42%.Subscriber revenues (75.2% of total revenues) declined 0.3% from the year-ago quarter to $1.72 billion. The figure missed the Zacks Consensus Estimate by 0.64%.Meanwhile, advertisement revenues (20.9%) declined 0.2% year over ...

The rise in demand for music streaming comes with its drawbacks for broadcasting companies that are used to offering a more diversified suite of listening options, as SiriusXM noted, following the launch of its new streaming app.The radio company shared in its fourth-quarter and full-year 2023 earnings report Thursday (Feb. 1) that revenue declined slightly from the year before, with average revenue per user (ARPU) falling slightly.“The challenge to 2024 revenue comes from roughly level subscriber numbers a ...

For the quarter ended December 2023, Sirius XM (SIRI) reported revenue of $2.29 billion, up 0.2% over the same period last year. EPS came in at $0.09, compared to $0.09 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of -0.42%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $0.07.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Sirius XM Holdings Inc. (NASDAQ:SIRI) Q4 2023 Earnings Conference Call February 1, 2024 8:00 AM ET Company Participants Jennifer Witz - Chief Executive Officer Scott Greenstein - President, Chief Content Officer Tom Barry - Executive Vice President, Chief Financial Officer Hooper Stevens - Senior Vice President, Investor Relation and Finance Conference Call Participants Cameron Mansson-Perrone - Morgan Stanley Vijay Jayant - Evercore Barton Crockett - Rosenblatt Steven Cahall - Wells Fargo Jim Goss - Barrin ...

Sirius XM (SIRI) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 28.57%. A quarter ago, it was expected that this satellite radio company would post earnings of $0.08 per share when it actually produced earnings of $0.09, delivering a surprise of 12.50%.Over the last four quarters, th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM __________ TO ________ COMMISSION FILE NUMBER 001-34295 SIRIUS XM HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...