Fri, Aug 16, 3:37 PM (151 days ago)
For Q2 2024, Liberty Sirius XM Holdings Inc. reported total revenues of $2,178 million, down 3% from $2,250 million in Q2 2023. Subscriber revenue decreased by 5% to $1,520 million, primarily due to a decline in average subscribers and lower average revenue per user (ARPU). Advertising revenue remained stable at $443 million, while equipment revenue held steady at $47 million. The company experienced a net income increase of 48%, reaching $354 million, aided by reduced operating expenses, which fell by 5% to $1,707 million. Cash flow from operations decreased to $753 million from $857 million, attributed to higher capital expenditures and tax payments. Free cash flow also declined by 22% to $317 million. The company continues to face uncertainties regarding subscriber growth and pricing strategies in a competitive market. Liberty Sirius XM Holdings is navigating a significant restructuring, including a planned split-off from Liberty Media Corporation, which may influence its future operational strategies and financial health.