SiriusXM Q3 Revenues Remained Flat at $2.227 Billion
SiriusXM reported third quarter revenue of $2.27 billion, which remained relatively flat compared to 2022. Adjusted EBITDA increased 4% to $747 million from $720 million, while Free Cash Flow was $291 million. The company reported a 47% increase in net income of $363 million (9 cents per diluted share), as compared to $247 million (6 cents) in the year-ago period.
During Q3 2023, Sirius XM Holdings returned $165 million to its stockholders, consisting of $93 million of dividends and $72 million of share repurchases. The company also announced a 10% hike to its dividend, marking the seventh consecutive double-digit increase since its inception in 2016.
The company reiterated its full-year 2023 guidance for revenue, adjusted EBITDA and free cash flow. It expects total revenue of approximately $9.0 billion, adjusted EBITDA of approximately $2.75 billion, and free cash flow of approximately $1.15 billion.