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Sirius XM | 10-Q: Q2 2024 Earnings Report

Sirius XM | 10-Q: Q2 2024 Earnings Report

Sirius XM | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/01 21:41

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Sirius XM Holdings reported Q2 2024 total revenue of $2.18 billion, down 3% year-over-year, while net income increased 2% to $316 million. The decline in revenue was primarily driven by a 5% decrease in Sirius XM subscriber revenue to $1.52 billion, partially offset by stable Pandora and Off-platform revenue of $538 million. Adjusted EBITDA remained flat at $702 million.The company's subscriber base continued to face pressure, with Sirius XM self-pay subscribers declining by 100,000 in Q2 and total subscribers decreasing by 173,000 to 33.3 million. Pandora's monthly active users fell 5% year-over-year to 45.1 million, while its subscriber count dropped 5% to 6.0 million. Operating expenses decreased 6% to $1.67 billion, helped by lower general and administrative costs.Free cash flow improved 6% to $343 million despite lower revenue, driven by reduced cash taxes and operating costs. The company maintained its quarterly dividend of $0.0266 per share and expects to complete its merger with Liberty Media in September 2024, which will result in the companies operating independently after the transaction closes.
Sirius XM Holdings reported Q2 2024 total revenue of $2.18 billion, down 3% year-over-year, while net income increased 2% to $316 million. The decline in revenue was primarily driven by a 5% decrease in Sirius XM subscriber revenue to $1.52 billion, partially offset by stable Pandora and Off-platform revenue of $538 million. Adjusted EBITDA remained flat at $702 million.The company's subscriber base continued to face pressure, with Sirius XM self-pay subscribers declining by 100,000 in Q2 and total subscribers decreasing by 173,000 to 33.3 million. Pandora's monthly active users fell 5% year-over-year to 45.1 million, while its subscriber count dropped 5% to 6.0 million. Operating expenses decreased 6% to $1.67 billion, helped by lower general and administrative costs.Free cash flow improved 6% to $343 million despite lower revenue, driven by reduced cash taxes and operating costs. The company maintained its quarterly dividend of $0.0266 per share and expects to complete its merger with Liberty Media in September 2024, which will result in the companies operating independently after the transaction closes.
Sirius XM控股公司报告2024年第二季度总营业收入为21.8亿美金，同比下降3%，而净利润增长2%，达31600万美金。营业收入的下降主要是由于Sirius XM订阅用户收入下降5%，降至15.2亿美金，部分被稳定的Pandora和非平台收入53800万美金所抵消。调整后的EBITDA保持在70200万美金不变。该公司的订阅用户数继续面临压力，Sirius XM自支付订阅用户在第二季度减少了10万，总订阅用户数减少173,000，降至3330万。Pandora的月活跃用户数同比下降5%，降至4510万，而其订阅用户数下降5%，降至600万。营业费用下降6%，降至16.7亿美金，得益于管理和行政成本的降低。尽管营业收入下降，自由现金流仍提高了6%，达34300万美金，主要受现金税和运营成本降低的推动。公司维持季度股息为每股0.0266美金，并预计将于2024年9月完成与自由媒体的合并，合并后两家公司将独立运营。
Sirius XM控股公司报告2024年第二季度总营业收入为21.8亿美金，同比下降3%，而净利润增长2%，达31600万美金。营业收入的下降主要是由于Sirius XM订阅用户收入下降5%，降至15.2亿美金，部分被稳定的Pandora和非平台收入53800万美金所抵消。调整后的EBITDA保持在70200万美金不变。该公司的订阅用户数继续面临压力，Sirius XM自支付订阅用户在第二季度减少了10万，总订阅用户数减少173,000，降至3330万。Pandora的月活跃用户数同比下降5%，降至4510万，而其订阅用户数下降5%，降至600万。营业费用下降6%，降至16.7亿美金，得益于管理和行政成本的降低。尽管营业收入下降，自由现金流仍提高了6%，达34300万美金，主要受现金税和运营成本降低的推动。公司维持季度股息为每股0.0266美金，并预计将于2024年9月完成与自由媒体的合并，合并后两家公司将独立运营。
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