The company reflects the subscribers’ declines, outperform Wall Street’s expectations
Siriusxm, who was cutting the employees and re -assembling its ranks in several areas in an attempt to reflect the subscribers losses, has reported better results than expected in the fourth quarter.
The satellite sound company has published profits per share of 83 cents and 2.19 billion dollars in revenues. Both standards exceeded the expectations of the consensus of the Wall Street analyst.
The results followed on Wednesday reports that the company is putting about 100 employees, a little less than 2 % of the total workforce. The move comes a year after a previous round of cuts that affect about 3 % of the employees.
Speaking to analysts in the company’s profit call in the fourth quarter, CEO Jennifer Whits said that the company’s management team “sharpens our strategic focus on the strengths and scouts in Siriusxm, focusing on strong margins, generating free cash flows, and capital returns.”
She said the basic goals are “to continue to enhance our subscription offer, benefit from our advertising power, and accelerate the efficiency and improvement of the organization and our cost structure.”
The company ended 2024 with 33 million subscribers. In the fourth quarter, the company added 149,000 self -paid subscribers, or more than 18,000 subscribers in the fourth quarter of 2023. Over the full year, subscribers’ levels decreased by 296,000, but the decrease was less than 445,000 shrinkage per year 2023.
Siriusxm sought to go out in front of the quarterly numbers in December, as it released the revised 2025 expectations for $ 8.5 billion of revenues (less than what analysts expected) and its assertion of “double” in the main car market. About 90 % of subscribers deal with Siriusxm in vehicles. The December announcement also included news that the main executives, including the person who supervised a problem renewal of the company’s mobile implementation, was leaving.
