- Shares of SiriusXM ( NASDAQ: SIRI ) on Thursday fell 9.3% to $5.32 in afternoon trading, after the audio entertainment company reported mixed Q4 results and provided FY 2023 revenue guidance below estimates.
- SIRI earlier posted Q4 GAAP EPS of $0.09 which beat estimates by one cent . Revenue was flat Y/Y to $2.28B, which missed expectations by $30M .
- The company said it anticipated total revenue of about $9B for FY 2023, which was lower than the consensus revenue estimate of $9.29B.
- Moreover, SIRI CFO Sean Sullivan warned that the company expected "modestly negative self-pay net adds for the year as economic and demand uncertainty persists."
- SIRI did not issue any guidance on subscribers.
- The company said it ended 2022 with 32.4M self-pay subscribers, an increase of 348K for the year. On the other hand, paid promotional subscribers decreased by 76K for the year.
- Meanwhile, SIRI's music streaming service Pandora finished 2022 with 47.6M monthly active users, down 9% from 52.3M in 2021.
- SiriusXM ( SIRI ) stock fell 4.6% in 2022, but has started off 2023 with slight gains.
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SiriusXM stock slips ~9% after FY 2023 revenue, net adds guidance disappoints