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Sirius XM (SIRI) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

Zacks Equity Research
·3-min read

Sirius XM (SIRI) reported $2.16 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.8%. EPS of $0.07 for the same period compares to $0.06 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.13 billion, representing a surprise of +1.32%. The company delivered an EPS surprise of +16.67%, with the consensus EPS estimate being $0.06.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Sirius XM performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Subscribers - Pandora and Off-platform - Ending subscribers: 5,944 versus 6,010 estimated by three analysts on average.

  • Subscribers - Sirius XM - Ending subscribers: 33,430 compared to the 33,579 average estimate based on three analysts.

  • ARPU - Sirius XM: $15.36 versus $15.46 estimated by three analysts on average.

  • Subscribers - Net additions - Sirius XM - Self-pay subscribers: -359 compared to the -240 average estimate based on three analysts.

  • Revenue- Other revenue: $30 million versus the three-analyst average estimate of $33.32 million. The reported number represents a year-over-year change of -6.3%.

  • Revenue- Equipment revenue: $50 million versus $45.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.

  • Revenue- Advertising revenue: $402 million versus $386.02 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.

  • Revenue- Subscriber revenue: $1.68 billion versus $1.66 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.

  • Revenue- Sirius XM- Total: $1.67 billion versus the three-analyst average estimate of $1.66 billion. The reported number represents a year-over-year change of -0.9%.

  • Revenue- Pandora and Off-platform- Advertising revenue: $362 million versus the three-analyst average estimate of $337.29 million. The reported number represents a year-over-year change of +8.4%.

  • Revenue- Sirius XM- Subscriber revenue: $1.55 billion versus the three-analyst average estimate of $1.55 billion. The reported number represents a year-over-year change of -1%.

  • Revenue- Sirius XM- Advertising revenue: $40 million compared to the $39.39 million average estimate based on three analysts. The reported number represents a change of -2.4% year over year.

View all Key Company Metrics for Sirius XM here>>>

Shares of Sirius XM have returned -17.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research