LOS ANGELES, CALIFORNIA - JANUARY 26: (L-R) Shane Douglas, Denise Richards and Jeff Lewis visit ... [+] SiriusXM Studios on January 26, 2024 in Los Angeles, California. (Photo by Emma McIntyre/Getty Images)Getty ImagesSirius XM (NASDAQ: SIRI), a leading provider of satellite radio, is scheduled to announce its fiscal fourth-quarter results on Thursday, February 1. We expect Sirius XM stock to likely trade lower with revenues missing but earnings matching market expectations in the fourth quarter results. Si ...

Wall Street analysts expect Sirius XM (SIRI) to post quarterly earnings of $0.07 per share in its upcoming report, which indicates a year-over-year decline of 22.2%. Revenues are expected to be $2.3 billion, up 0.6% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 2.4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces i ...

More Big Warren Buffett Purchases Highlight Recent Insider Buying frender / iStock via Getty Images The number of notable insider purchases in mid-January may have been somewhat small, but a couple from the Oracle of Omaha made headlines. Plus, insiders at three healthcare-related firms and a refiner scooped up some shares during the holiday-shortened week as well.A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price w ...

(AP Photo/David Zalubowski, File)AP2006On December 12, 2023, Liberty Media Corporation (NASDAQ NDAQ : LSXMA, FWONA, LLYVA) and Sirius XM Holdings Inc. SIRI (NASDAQ: SIRI), the leading audio entertainment company in North America, announced that they have entered into definitive agreements whereby Liberty Media’s Liberty SiriusXM tracking stock group (NASDAQ: LSXMA, LSXMB and LSXMK, or collectively “LSXM”), will be combined with SiriusXM to create a new public company, which will continue to operate under t ...

New York’s attorney general has sued SiriusXM, accusing the satellite radio and streaming service of making it intentionally difficult for customers to cancel their subscriptions. Attorney General Letitia James’ office said complaints from customers found that SiriusXM forced subscribers to wait in an automated system. That’s before often-lengthy interactions with agents who tried to persuade them not to cancel. “Having to endure a lengthy and frustrating process to cancel a subscription is a stressful bu ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain Sirius XM Radio Inc. was sued by New York state for making it difficult for customers to cancel subscriptions to the broadcaster's online radio services, in violation of state and federal consumer protection laws. A probe by the AG's office found that Sirius trains employees to keep customers ...

Company and Industry Overview * **Company**: Sirius XM Holdings Inc. (NASDAQ: SIRI) * **Industry**: Media and Communications, specifically satellite radio and streaming services Key Points 1. Next-Generation Platform Launch * **Launch**: SiriusXM is launching a new next-generation platform, initially on streaming, with plans to roll it out across other products in the future. * **Features**: The platform includes a new streaming-only lower price point of $9.99/month, enhanced search and recommendation capabilities, and a new in-car platform called 360L. * **Objective**: The platform aims to grow subscribers, subscription revenue, and advertising over time. 2. Strategic Cost Management * **Efforts**: SiriusXM has been focused on strategic cost management, identifying $40 million in net savings in the last quarter. * **Focus**: The company will continue to focus on cost reductions while also investing in product and technology. 3. Balance Sheet and Free Cash Flow * **Balance Sheet**: SiriusXM has a strong balance sheet with $2 billion in liquidity and no bond maturities until 2026. * **Free Cash Flow**: The company expects free cash flow to grow over the next five years, despite high capital expenditures for satellite and non-satellite CapEx. 4. Subscriber Growth * **Trends**: SiriusXM expects meaningful improvement in subscriber net adds next year compared to this year. * **Challenges**: Vehicle-related churn, particularly in the used car market, remains a challenge. * **Strategies**: The company is focusing on partnerships and programs to drive conversion rates and improve subscriber retention. 5. Advertising * **Assets**: SiriusXM has a unique set of assets in audio, including SiriusXM broadcast, Pandora, and other off-platform advertising. * **Podcasting**: Podcasting has seen strong growth, with a focus on ad representation deals and exclusive content partnerships. * **Monetization**: SiriusXM is exploring different monetization opportunities, including ad-supported and subscription models. 6. Pricing Strategy * **Streaming**: The new streaming service will be priced at $9.99/month, positioning it as a complementary product to other music streaming services. * **ARPU**: SiriusXM's ARPU is trending at $15.70, with a focus on balancing core subscriber base growth with new demand capture. 7. Liberty Proposal * **Discussion**: SiriusXM is actively discussing a proposal from Liberty regarding additional leverage. * **Objective**: The company aims to reach its long-term target leverage rate of the low to mid three times EBITDA range. * **Timeline**: The resolution of the proposal is expected to be positive and will position the company well for future growth.

Start Time: 11:45 January 1, 0000 12:50 PM ET Sirius XM Holdings Inc. (NASDAQ:SIRI) 7th Annual Wells Fargo TMT Summit November 28, 2023, 11:45 AM ET Company Participants Jennifer Witz - CEO Conference Call Participants Steven Cahall - Wells Fargo Securities Steven Cahall Great. So for our next fireside, we're joined by Jennifer Witz, CEO of SiriusXM. Jennifer, thanks for joining us. I've had the joy of covering SiriusXM for a number of years and I think this, in my memory is probably the most change that yo ...

Sirius XM Holdings Inc. (NASDAQ:SIRI) Q3 2023 Earnings Conference Call October 31, 2023 8:00 AM ET Company Participants Hooper Stevens - Senior Vice President of Investor Relations and Finance Jennifer Witz - Chief Executive Officer Tom Barry - Chief Financial Officer Scott Greenstein - President and Chief Content Officer Conference Call Participants Bryan Kraft - Deutsche Bank Jessica Reif Ehrlich - Bank of America Steven Cahall - Wells Fargo Cameron Mansson-Perrone - Morgan Stanley Jason Bazinet - Citi Ba ...

[PART I - Financial Information](index=3&type=section&id=PART%20I%20-%20Financial%20Information) This section presents the company's unaudited financial statements, management's analysis of financial performance, market risk exposures, and internal controls [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents Sirius XM Holdings Inc.'s unaudited consolidated financial statements and accompanying notes [Consolidated Statements of Comprehensive Income](index=3&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) This statement details the company's revenues, expenses, and net income for the specified periods | Financial Metric | Q3 2023 (in millions) | Q3 2022 (in millions) | Nine Months 2023 (in millions) | Nine Months 2022 (in millions) | | :--- | :--- | :--- | :--- | :--- | | **Total revenue** | **$2,271** | **$2,280** | **$6,665** | **$6,720** | | Subscriber revenue | $1,729 | $1,734 | $5,146 | $5,166 | | Advertising revenue | $460 | $457 | $1,278 | $1,292 | | Income from operations | $564 | $467 | $1,455 | $1,474 | | **Net income** | **$363** | **$247** | **$906** | **$848** | | **Diluted EPS** | **$0.09** | **$0.06** | **$0.23** | **$0.21** | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and equity at specific dates | Balance Sheet Item | Sep 30, 2023 (in millions) | Dec 31, 2022 (in millions) | | :--- | :--- | :--- | | Cash and cash equivalents | $53 | $57 | | Total current assets | $1,041 | $1,038 | | **Total assets** | **$10,129** | **$10,022** | | Total current liabilities | $3,158 | $2,981 | | Long-term debt | $8,823 | $9,256 | | **Total liabilities** | **$13,022** | **$13,373** | | **Total stockholders' equity (deficit)** | **$(2,893)** | **$(3,351)** | [Consolidated Statements of Stockholders' Equity (Deficit)](index=5&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity%20(Deficit)) This statement tracks changes in the company's equity, including net income, share repurchases, and dividends - The total stockholders' deficit improved from **$(3,351) million** at the end of 2022 to **$(2,893) million** as of September 30, 2023, primarily driven by net income of **$906 million**[15](index=15&type=chunk) - During the first nine months of 2023, the company repurchased **69 million shares** of common stock for **$274 million** and paid cash dividends totaling **$281 million**[15](index=15&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This statement summarizes cash inflows and outflows from operating, investing, and financing activities | Cash Flow Activity (Nine Months Ended Sep 30) | 2023 (in millions) | 2022 (in millions) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$1,279** | **$1,300** | | Net cash used in investing activities | $(554) | $(415) | | Net cash used in financing activities | $(729) | $(1,036) | | **Net decrease in cash, cash equivalents and restricted cash** | **$(4)** | **$(151)** | [Notes to the Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and additional information supporting the financial statements - The company operates and reports on two segments: '**SiriusXM**' (satellite radio and connected vehicle services) and '**Pandora and Off-platform**' (streaming and advertising technology)[34](index=34&type=chunk)[48](index=48&type=chunk)[166](index=166&type=chunk) - As of September 30, 2023, Liberty Media Corporation beneficially owned **83.5%** of the company's outstanding common stock, making SiriusXM a '**controlled company**'[44](index=44&type=chunk)[88](index=88&type=chunk) - On September 22, 2023, the company received a non-binding proposal from Liberty Media for a potential combination transaction involving the split-off of Liberty's SiriusXM tracking stock group[90](index=90&type=chunk) - Total debt as of September 30, 2023, was approximately **$9.36 billion**, consisting of various senior notes, convertible notes, and borrowings under a credit facility[101](index=101&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial results, revenue trends, net income, EBITDA, cash flow, and key operating metrics | Metric | Q3 2023 | Q3 2022 | Change | Nine Months 2023 | Nine Months 2022 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$2,271M** | **$2,280M** | **(0.4%)** | **$6,665M** | **$6,720M** | **(0.8%)** | | SiriusXM Revenue | $1,721M | $1,742M | (1.2%) | $5,124M | $5,181M | (1.1%) | | Pandora & Off-platform Revenue | $550M | $538M | +2.2% | $1,541M | $1,539M | +0.1% | | **Net Income** | **$363M** | **$247M** | **+47.0%** | **$906M** | **$848M** | **+6.8%** | | **Adjusted EBITDA** | **$747M** | **$720M** | **+3.8%** | **$2,075M** | **$2,091M** | **(0.8%)** | | Operating Metric | As of Sep 30, 2023 | As of Sep 30, 2022 | Change | | :--- | :--- | :--- | :--- | | SiriusXM Ending Subscribers | 33.97 million | 34.17 million | (0.6%) | | Pandora Monthly Active Users | 46.50 million | 48.77 million | (4.7%) | | Pandora Ending Subscribers | 6.12 million | 6.27 million | (2.4%) | - Free cash flow for the nine months ended September 30, 2023, decreased **26%** to **$758 million** from **$1,022 million** in the prior-year period, primarily driven by higher cash taxes paid and increased satellite capital expenditures[279](index=279&type=chunk) - Sales and marketing expenses decreased **19%** for the nine-month period due to lower spending on streaming marketing and brand support[244](index=244&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risks](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risks) The company's primary market risk is interest rate fluctuations on variable-rate debt, with no current hedging - The company's main market risk is from interest rate fluctuations affecting its variable-rate debt under the Credit Facility[310](index=310&type=chunk) - As of September 30, 2023, the company did not hold any free-standing derivative instruments for hedging purposes[309](index=309&type=chunk) [Item 4. Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were effective, with no material changes to internal controls this quarter - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[312](index=312&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the quarter ended September 30, 2023[313](index=313&type=chunk) [PART II - Other Information](index=50&type=section&id=PART%20II%20-%20Other%20Information) This section details legal proceedings, updates on risk factors, equity repurchase activities, and a list of filed exhibits [Item 1. Legal Proceedings](index=50&type=section&id=Item%201.%20Legal%20Proceedings) The company faces class action lawsuits and arbitrations regarding its 'U.S. Music Royalty Fee' and intends to defend itself - The company is facing multiple class actions and mass arbitrations alleging deceptive practices related to its '**U.S. Music Royalty Fee**'[151](index=151&type=chunk) - The company states it has substantial defenses to the claims and intends to defend the actions vigorously[156](index=156&type=chunk) [Item 1A. Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) The company reports that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022 - No material changes to risk factors were reported since the filing of the 2022 Annual Report on Form 10-K[316](index=316&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section details the company's Q3 2023 common stock repurchase activity and remaining authorization | Period (2023) | Total Shares Purchased | Average Price Paid Per Share | Value Remaining in Program | | :--- | :--- | :--- | :--- | | July | 2,422,502 | $4.65 | $1.23B | | August | 6,127,426 | $4.44 | $1.20B | | September | 8,110,782 | $4.16 | $1.17B | | **Q3 Total** | **16,660,710** | **$4.33** | **$1.17B** | - As of September 30, 2023, **$1.2 billion** remained available for future share repurchases under the company's existing stock repurchase program[317](index=317&type=chunk) [Item 3. Defaults Upon Senior Securities](index=51&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable - Not applicable[319](index=319&type=chunk) [Item 4. Mine Safety Disclosures](index=51&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable - Not applicable[320](index=320&type=chunk) [Item 5. Other Information](index=51&type=section&id=Item%205.%20Other%20Information) This item is not applicable - Not applicable[321](index=321&type=chunk) [Item 6. Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and Inline XBRL data - The report includes required certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act[323](index=323&type=chunk) - Financial statements and notes are provided in Inline eXtensible Business Reporting Language (**Inline XBRL**) format[323](index=323&type=chunk) [Signatures](index=53&type=section&id=Signatures) This section contains the official signatures certifying the accuracy and completeness of the report - The Form 10-Q report was signed on October 31, 2023, by Thomas D. Barry, Executive Vice President and Chief Financial Officer[326](index=326&type=chunk)[327](index=327&type=chunk)