"Things have not been going well for SiriusXM for a while, and the latest quarter continued that trend. For example, SiriusXM's earnings declined 23% to $0.57 per share in the second quarter (which ended June 30), and its sales fell nearly 2% to $2.1 billion. One of the key problems for the company is its falling subscriber numbers. SiriusXM ended Q2 with 32.8 million subscribers, a decline of 1% year over year."
"The company generates about 75% of its total sales from subscriptions, and subscription revenue fell almost 2% in the quarter to $1.6 billion. The decline in subscribers isn't as rapid as it has been in the past, but it's still a red flag for the company, especially as it faces continued pressure from podcasts and music streaming services. Making matters worse for the company is that it's failing to tap into a massive advertising opportunity."
Apple's stock rose about 40% over the past three years while SiriusXM's stock fell about 60%, versus the S&P 500's roughly 60% gain. SiriusXM's Q2 earnings declined 23% to $0.57 per share and sales fell nearly 2% to $2.1 billion. SiriusXM ended Q2 with 32.8 million subscribers, down 1% year over year, and subscription revenue fell almost 2% to $1.6 billion. SiriusXM faces competition from podcasts and music streaming and is missing digital audio advertising opportunities. Apple flubbed its AI rollout and lags peers but remains very profitable with a high-margin services business and potential to catch up in AI.
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