Home Login RADIO ONLINE RSS Facebook
Find Radio Online
AM FM HD

Advertisement

SiriusXM Q3 Net Revenues Up 4% to $2.28 Billion


SiriusXM
SiriusXM

SiriusXM reported third quarter revenue grew 4% to $2.28 billion from $2.1 billion in 2021. Adjusted EBITDA of $720 million remained roughly flat. The company posted a net income of $247 million (6 cents per diluted share) as compared to $343 million (8 cents) in the year-ago period. Earnings per diluted common share for the quarter was 7 cents when excluding lease impairments and other restructuring costs.

"We are pleased to report third quarter results that reflect strong execution during the period while leaning into investments designed to ensure SiriusXM will thrive long-term," said CEO Jennifer Witz. "This quarter we focused on enhancing the listener experience and expanding our unparalleled stable of programming and talent to continue providing our subscribers with the best in audio, both in-car and in the SXM App. From live sports and election coverage to exclusive artist channels and live Small Stage performances, we are thrilled to offer a diverse and differentiated content slate paired with technology that makes it easier than ever to discover new favorites."

"SiriusXM delivered solid subscriber and revenue growth during the third quarter, and while we continue to closely monitor downward trends in the advertising market that add risk to our 2022 expectations, we are pleased to reiterate our full-year subscriber and financial guidance," added CFO Sean Sullivan. "During the quarter, SiriusXM returned $262 million in capital to stockholders and ended the quarter with net debt to adjusted EBITDA of 3.5 times."

SiriusXM ended Q3 with 32.2 million self-pay subscribers, an increase of 187,000, aided by trial funnel growth in the prior quarter and a growing base of streaming-only subscribers.

The company announced that its board of directors declared a quarterly cash dividend of $0.0242 per share of common stock, reflecting an increase of approximately 10% over the previous quarter dividend. This quarterly dividend is payable in cash on November 30, 2022, to stockholders of record at the close of business on November 11.

Advertisement

Latest Radio Stories

iHM/San Diego Names Taylor Jukes as SVP/Programming
Taylor Jukes
Taylor Jukes
iHeartMedia names Taylor Jukes as Senior Vice President of Programming for San Diego, effective immediately. Jukes joins from iHeartMedia/Miami, where she served as the Program Director of WHYI (Y100). She continues her role on the iHeart CHR Brand More

Brooks O'Brian Named WFMS-FM/Indianapolis PD/Afternoons
Brooks O'Brian
Brooks O'Brian
Cumulus appoints Brooks O'Brian as Program Director for Country WFMS-FM in Indianapolis. She'll also be heard in afternoon drive, airing weekdays from 3-7pm. O'Brian was previously PD for KXSN-FM and KYXY in (Sunny 98.1)/San Diego. Before that, she More

Study Finds Urban, Suburban & Rural Listening Differences
Edison Research
Edison Research
Edison Research's Share of Ear study finds that listeners from urban, suburban and rural areas (as defined by the U.S. Census) exhibit distinctively different behaviors when it comes to AM/FM radio listening, and podcast listening. As seen in the More
Advertisement

First-of-its-Kind NAB Show Welcome Session Announced
NAB Show
NAB Show
The National Association of Broadcasters (NAB) has revealed the lineup for the NAB Show Welcome Session, taking place on the Main Stage at NAB Show, April 15 at 9:30am PT. NAB President and CEO Curtis LeGeyt will lead off the event with a state of More

Premiere Promotes Tammy Ragusa to Executive Producer/CPS
Tammy Ragusa
Tammy Ragusa
Premiere Networks promotes Tammy Ragusa to Executive Producer of Premiere Prep's Country radio services, effective immediately. Based in Nashville, Ragusa will oversee the company's Country Today and True Country prep services, as well as country More

iHM, New York Jets Inks Radio and Streaming Partnership
WAXQ (Q104.3) and New York Jets
WAXQ (Q104.3) and New York Jets
The New York Jets and iHeartMedia New York have agreed to a multi-year radio and streaming partnership that establishes Classic Rock WAXQ (Q104.3)/New York as the official broadcast radio home of the New York Jets, connecting the company's listeners More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement