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Sirius XM (SIRI) to Report Q1 Earnings: What's in the Cards?

Zacks Equity Research

Sirius XM Holdings SIRI is set to report first-quarter 2020 results on Apr 28.

The Zacks Consensus Estimate for earnings remained unchanged at 5 cents per share over the past 30 days and is the same as the year-ago quarter’s reported figure.

The consensus mark for revenues is pegged at $1.9 billion, implying growth of 9.2% from the year-ago period’s reported figure.

Notably, the company’s earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed in three, with a negative surprise of 13.3%, on average.
 
Let’s see how things have shaped up for this announcement.

Factors to Consider

SiriusXM's focus on strengthening its content portfolio has been aiding subscriber growth.

The company’s strategy of collaborating with artists and organizations has paid off. Partnerships with the likes of Coldplay, Chainsmokers & Lizzo, Pearl jam and Harry Styles among others to perform in concerts and shows have been successful in attracting subscribers.

Sirius XM Holdings Inc. Price and EPS Surprise

Sirius XM Holdings Inc. Price and EPS Surprise
Sirius XM Holdings Inc. Price and EPS Surprise

Sirius XM Holdings Inc. price-eps-surprise | Sirius XM Holdings Inc. Quote

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During the quarter, SiriusXM broadcast Ultra Virtual Audio Festival on UMF Radio starting Mar 20, featuring exclusive live DJ sets from artists who were originally scheduled to perform at Ultra Music Festival, which was deferred due to the coronavirus outbreak.

Famous DJs including Afrojack, Armin van Buuren, Martin Garrix, Above & Beyond, Major Lazer, Lost Frequencies, Oliver Heldens, and Nicky Romero among others performed for SiriusXM, which is expected to have helped in subscriber base expansion.

Additionally, the company began its coverage of the 2020 FIA FORMULA ONE WORLD CHAMPIONSHIP with the season’s opening event, the FORMULA 1 ROLEX AUSTRALIAN GRAND PRIX 2020 during the to-be reported quarter.

Notably, through SiriusXM’s agreement with Formula 1 (F1), all F1 races are available to subscribers on SiriusXM radios and on the SiriusXM app.

Moreover, the availability of all F1 programming on SiriusXM, including race broadcasts, on a wide variety of connected devices including smart TVs, devices like Amazon’s AMZN Alexa, Alphabet’s GOOGL the Google Assistant, Apple TV, PlayStation, Roku ROKU has been a major growth driver.

SiriusXM, which has a Zacks Rank #3 (Hold), further strengthened its footprint in car-racing content by becoming the official satellite radio partner of INDYCAR, the sanctioning body for the NTT INDYCAR SERIES, expanding its coverage for the 2020 season.  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Moreover, SiriusXM covered live broadcast of 62nd Daytona 500 as well as all news and events of NASCAR’s annual Speedweeks leading up to race day.

In addition to delivering live turn-by-turn broadcasts of every race all season long, SiriusXM debuted a new weekly show featuring current and former INDYCAR drivers in the to-be-reported quarter.

Key Q1 Developments

During the quarter, the company invested $75 million in SoundCloud, the world's largest open audio platform. The minority investment follows the highly successful ad sales relationship between SoundCloud and Pandora, a subsidiary of SiriusXM.

The agreement enables advertisers and brands to purchase SoundCloud's U.S. ad inventory directly through Pandora, leveraging the company's direct sales capabilities, targeting data, and audio programmatic platform.

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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
 
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Zacks Investment Research