SiriusXM reported third-quarter revenue of $2.16 billion, above analyst expectations but down 1 percent from the prior-year period, and net income of $297 million, after reporting a net loss of $29.6 billion a year ago.
The company reported earnings per share of $0.84, above analyst expectations and compared to a loss of $8.74 in the third quarter of 2024. The year ago net loss included a $3.36 billion noncash goodwill impairment related to the Liberty Media transaction.
The satellite radio company reported 33 million total paid subscribers, down 40,000. Monthly churn improved slightly year-over-year, reaching 1.6 percent. The lower subscriber base led to a $13 million decrease in subscriber revenue this quarter.
In the prior quarter, the company extended its agreement with Andy Cohen, renewd its agreement with Megyn Kelly and saw Stephen A. Smith debut on the platform. SiriusXM also recently signed popular podcasts Morbid and The MrBallen Podcast.
“This was a quarter of meaningful progress for SiriusXM,” said Jennifer Witz, Chief Executive Officer. “We’re enhancing the subscriber experience through new content, deeper personalization, and continued innovation across every stage of the customer journey, driving greater engagement and value for our listeners. At the same time, we’re scaling our digital advertising business and strengthening our leadership in podcasting. Across each of these areas, we’re leveraging our unique assets to deliver sustainable profitability and long-term value for our shareholders — a strategy that is already delivering as we raise our full year guidance.”
The company increased its 2025 guidance for revenue to $8.525 billion and its adjusted EBITDA of about $2.625 billion and free cash flow of approximately $1.225 billion.
