Sirius XM (SIRI) Misses Q3 EPS by 1c, Revenues Beat; Provides FY19 Revenue Guidance Above Consensus

October 31, 2019 7:14 AM EDT

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Sirius XM (NASDAQ: SIRI) reported Q3 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.98 billion.

"SiriusXM's robust third quarter saw strong results across the board. Total net additions benefited from continuing strength in the auto sector, and our adjusted EBITDA hit an all-time quarterly record of $657 million. Things have never been more exciting at the company as we continue to invest in our brands, content, products and expanded OEM distribution. With two months left in the year, we are raising 2019 guidance for revenue, adjusted EBITDA and free cash flow and we are confident in our expectations for self-pay subscriber growth," said Jim Meyer, Chief Executive Officer, SiriusXM.

"We officially opened our new Hollywood studio complex with a special series of shows by Howard Stern. Howard is at the top of his game and was welcomed to LA by an array of stars and special live performances by Adam Levine and Green Day, all from our state-of-the-art street level performance space we call The Garage. Howard\'s broadcast followed a month of special shows, interviews, and performances in LA exclusively for us by Carrie Underwood, Julia Roberts, Dave Matthews and breakout artist Billie Eilish, to name a few. Re-establishing ourselves in the Entertainment Capital of the world, and being closer to compelling talent and brands, bolsters the value of our programming for our subscribers," added Meyer.

GUIDANCE:

Sirius XM sees FY2019 revenue of $7.85 billion, versus the consensus of $7.64 billion.

For earnings history and earnings-related data on Sirius XM (SIRI) click here.



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