SiriusXM Q3 flat; enhancements coming
November 2, 2023
By Chris Forrester
US pay-radio operator SiriusXM declared Q3 revenues were flat at $2.27 billion (€2bn), just short of the $2.29 billion expected.Nevertheless, the company confirmed the increased quarterly dividend of $0.1064 per share which converts to a yield of 2.5 per cent.
In summary, SiriusXM earnings growth was -3.98 per cent, a slight improvement on the same period last year of -4.23 per cent. However, the company says it expects a positive outcome for the next 5 years at a growth rate of +5.19 per cent.
SiriusXM added that it has “exciting plans” ahead and will unveil its updated platform on November 8th, which aims to enhance the consumer experience through improved discovery, personalisation, and targeted streaming for its customers.
“The company’s relationships with original equipment manufacturers (OEMs) have been instrumental in promoting the adoption of the 360L platform across a diverse range of vehicles. This expansion should effectively reach consumers in both in-car and streaming environments,” the company said.