Sirius XM Holdings Inc. reported its financial results for the second quarter of 2024 on August 1, 2024. The company announced a slight decrease in revenue to $2.18 billion, a 3% drop from the second quarter of 2023. Despite the revenue decline, net income rose to $316 million from $310 million in the previous year's quarter, with diluted earnings per share (EPS) remaining stable at $0.08. Adjusted EBITDA was reported at $702 million, showing an 8% improvement from the first quarter of 2024 and remaining flat year-over-year. The company also generated $343 million in free cash flow, a 6% increase from the same quarter in the previous year. Sirius XM's CEO Jennifer Witz expressed pride in the company's financial success and its focus on delivering value for listeners and...Show More

Sirius XM Holdings Inc. reported its financial results for the second quarter of 2024 on August 1, 2024. The company announced a slight decrease in revenue to $2.18 billion, a 3% drop from the second quarter of 2023. Despite the revenue decline, net income rose to $316 million from $310 million in the previous year's quarter, with diluted earnings per share (EPS) remaining stable at $0.08. Adjusted EBITDA was reported at $702 million, showing an 8% improvement from the first quarter of 2024 and remaining flat year-over-year. The company also generated $343 million in free cash flow, a 6% increase from the same quarter in the previous year. Sirius XM's CEO Jennifer Witz expressed pride in the company's financial success and its focus on delivering value for listeners and investors. CFO Tom Barry highlighted the company's strategic investments in technology and automation, which have improved operational efficiency and customer experience. The company reiterated its 2024 financial guidance, expecting approximately $8.75 billion in revenue, $2.70 billion in adjusted EBITDA, and $1.20 billion in free cash flow. The report also detailed the upcoming transaction with Liberty Media, set to close on September 9, 2024, and its expected impact on the company's free cash flow guidance.