SiriusXM Q3 Revenue Edges Down, Subscriber Count Holds Steady at 33 Million

SiriusXM’s third-quarter revenue edged down slightly year on year, while net income and adjusted EBITDA rose. The company added 5,000 paid subscribers, keeping its total at 33 million, as it works to stabilise its subscriber base.

Revenue was $2.153 billion, compared with $2.16 billion a year earlier, and net income increased 7 per cent to $317 million. Adjusted EBITDA rose 3 per cent to $694 million, helped by lower expenses and programming costs; subscriber and advertising revenue were nearly unchanged. Monthly churn fell to 1.5 per cent from 1.6 per cent, while average listening time rose 5 per cent. Recent content deals include a multiyear agreement with Howard Stern and new or extended arrangements with other hosts.