Business
SiriusXM Reports Fourth Quarter and Full Year 2021 Results
- SiriusXM's 2021 Revenue Reaches a Record $8.70 Billion; an Increase of 8% Compared to 2020 - Full-Year 2021 Net Income Climbs to $1.31 Billion; Diluted EPS
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[{"type":"text","content":"- SiriusXM's 2021 Revenue Reaches a Record $8.70 Billion; an Increase of 8% Compared to 2020\n - Full-Year 2021 Net Income Climbs to $1.31 Billion; Diluted EPS of $0.32\n - Record Full-Year 2021 Adjusted EBITDA of $2.77 Billion, an Increase of 8% Year-Over-Year\n - Company Exceeds All 2021 Financial & Operating Guidance; Issues New 2022 Guidance\n - Announces a Special Dividend of $0.25 per Share, Returning an Additional $1 Billion to Stockholders\n\n\nNEW YORK, Feb. 1, 2022 /PRNewswire/ -- SiriusXM today announced fourth quarter and full-year 2021 operating and financial results, including revenue of $2.28 billion and $8.70 billion, respectively, an increase of 4% and 8%, compared to the prior year periods. The company recorded net income of $318 million and $1.31 billion in the fourth quarter and full-year 2021, respectively, compared to $(677) million and $131 million in the prior year periods. The fourth quarter and full year 2020 was impacted by a $976 million non-cash impairment charge associated with Pandora. Net income per diluted common share was $0.08 and $0.32 in the fourth quarter and full year 2021, respectively.\n\n \n \n \n \n \n \n\n \nAdjusted EBITDA reached a new record of $2.77 billion in 2021, climbing 8% from $2.58 billion in 2020. \n\"2021 was an outstanding year across the board. We added more than one million net new SiriusXM self-pay subscribers for the tenth time in the past 11 years; this growth continues to be sustained by a fifth straight year of improving churn. Once again we outperformed all of 2021's public guidance, and now our strong financial position enables us to declare a special cash dividend to our stockholders,\" said Jennifer Witz, Chief Executive Officer of SiriusXM.\n\"Our performance last year is a testament to our strong execution – and staying true to our vision of connecting listeners to the content they love. We collaborated with renowned and emerging creators across our platforms to deliver curated premium content both in- and out-of-car; and delivered value to our advertisers with effective solutions to reach a massive audience of more than 150 million listeners,\" added Witz.\nBUSINESS AND CONTENT UPDATE\nNew vehicle penetration reaches 82% in 2021. SiriusXM's hardware was incorporated into approximately 82% of new vehicles sold in the United States in 2021, up from approximate...