SiriusXM predicted to hit $2.17bn in sales

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A report from Zachs Investment Research says that pay-radio broadcaster SiriusXM is expected to report quarterly sales of $2.17 billion (€1.8bn).

The consensus is that the US pay-radio broadcaster will manage a range of between $2.15-$2.19 billion. This same quarter last year SiriusXM reported sales revenues of $2.03 billion. The uplift this quarter-year suggests an improvement of about 6.9 per cent.

Zachs says that 2021 is likely to annual sales of some $8.62 billion, which is forecasts will grow in 2022 to about $9.02 billion.

However, there are some worries not least the lack of chip-sets for new cars which is hampering sales of new vehicles and thus could impact new subscribers.

SiriusXM is using some of its profits to buy in its own shares. In July it announced a share repurchase plan for $2 billion-worth of stock.


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