SiriusXM Holdings (SIRI) reported a more significant loss than expected in the third quarter of 2024, amounting to 84 cents per share. In the same quarter last year, the company recorded a profit of 90 cents per share. Total revenue decreased by 4.4% compared to last year, amounting to $ 2.17 billion, which is 0.91% less than the consensus forecast.
In this quarter, SiriusXM completed a deal with Liberty Media and fully expanded to the level of an independent public company. In response to the decrease in subscriptions, the company plans to re-introduce its business and increase free cash flow generation. SiriusXM's long—term goal is to reach 50 million subscribers and $1.8 billion in free cash flow.
