Sirius XM Q4 earnings beat estimates, revenues miss

Sirius XM Holdings SIRI reported fourth-quarter 2022 earnings of 9 cents per share, which beat the Zacks Consensus Estimate by 12.5% and increased 12.5% year over year.

Total revenues on a reported basis remained flat year over year to $2.28 billion. The figure missed the consensus mark by 0.8%.

Subscriber revenues (75.6% of total revenues) rose 1.8% from the year-ago quarter to $1.72 billion.

Meanwhile, advertisement revenues (21%) declined 3% year over year to $480 million. Equipment revenues (1.8% of total revenues) decreased 22.6% year over year to $41 million.

Other revenues (1.6% of total revenues) decreased 5.3% from the year-ago quarter to $36 million.

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

Sirius XM Standalone Details
Sirius XM segment revenues were $1.72 billion, up 0.9% year over year. While the subscriber base increased 0.8%, revenues witnessed growth driven by a 2% rise in Average revenue per user, which amounted to $15.64.

Self-pay subscribers increased 3% year over year to 32.38 million. Net self-pay subscribers increased 134K in the reported quarter.

Total subscribers were 34.3 million at the end of fourth-quarter 2022, up 0.8% from the year-ago quarter.

Sirius XM Canada subscribers grew by 50K to 2.56 million. Subscriber revenues rose 2.1% year over year to $1.59 billion. Advertising revenues were $50 million, down 5.7% year over year.

Equipment revenues decreased 22.6% year over year to $41 million. Other revenues decreased 5.3% year over year to $36 million.

Pandora & OFF Platform Details
Pandora and OFF platform’s revenues declined 2.6% year over year at $560 million owing to a 2.7% decrease in advertising revenues that totaled $430 million and subscriber revenues that declined 2.3% year over year to $130 million.

Pandora finished 2022 with 47.6 million Monthly Active Users, down 9% from 52.3 million in the prior year period. Total ad-supported listener hours were 10.9 billion at the end of 2022, down 6% from 11.5 billion in 2021. Average monthly listening hours per ad-supported user climbed 4% to 20.6 in 2022 compared with 19.9 in 2021. yahoo! finance