SiriusXM trims full-year revenue forecast, shares slide
Oct 31 (Reuters) -SiriusXM SIRI.O trimmed its full-year revenue forecast on Thursday as it expected slower growth in paying users for its content that includes the Howard Stern show, sending the company's shares down 4.2% before the bell.
SiriusXM now expects full-year revenue of about $8.68 billion, lower than its previous forecast of about $8.75 billion.
The company's self-pay subscribers increased by about 14,000 in the third quarter, compared to a decrease of 96,000 a year ago. Analysts at Visible Alpha were estimating a decrease of about 47,390 subscribers.
Its third-quarter churn, which is the rate of customers who stopped using its services, was 1.6% among self-pay users, consistent with a year ago.
Paid promotional subscribers declined by about 114,000, which the company attributed to certain automakers transitioning to unpaid or shorter-term paid promotional plans.
SiriusXM's quarterly revenue of $2.17 billion came in marginally below estimates of $2.19 billion, according to data compiled by LSEG.
Of that, advertising revenue of $450 million was also below analysts' average expectation of $465.7 million.
The company reported a quarterly net loss of $2.96 billion, which included a non-cash impairment charge of about $3.36 billion related to the Liberty Media transaction.
Last month, the company began trading under a new structure after billionaire John Malone's Liberty Media completed a merger of its business that holds a majority stake in the radio company with the rest of SiriusXM.
SiriusXM's free cash flow fell to $93 million in the quarter from $291 million a year ago. It had earlier cut its full-year free cash flow forecast by more than 16% to $1 billion.
Reporting by Rishi Kant in Bengaluru; Editing by Savio D'Souza
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
