Analyst: SiriusXM to top $2bn revenues this quarter
April 7, 2021
By Chris Forrester
There’s a strong likelihood that US pay-radio operator SiriusXM will reach – and perhaps top – $2 billion in overall revenues this quarter-year. It will declare its results on April 28th.
Analysts at financial services business Zacks say they expect SiriusXM to report its quarterly numbers in the range of $1.98-$1.99 billion. The operation was close to bankruptcy just a few years ago.
For the same period in 2020, New York-based SiriusXM reported revenues of $1.95 billion.
Zacks says that 2021’s overall 12-month revenues should be around $8.4 billion (and 2022 is forecast to see revenues of around $8.82 billion.
Sirius announced their merger plan with XM in 2007 with almost 14 million combined subscribers but neither business was profitable. SiriusXM was able to avoid bankruptcy by borrowing $530 million from Liberty Media in return for a 40 per cent stake in the broadcaster which Liberty has steadily increased over the past few years.
It also operates over Canada, and in February 2019 SiriusXM acquired music streaming service Pandora.