Business
SiriusXM Reports Second Quarter 2022 Results
Revenue in Second Quarter 2022 of $2.25 Billion; an Increase of 4% Year-Over-YearSecond Quarter 2022 Net Income of $292 Million; Diluted EPS of $0.07Adjusted
About this update from Siriusxm Holdings Inc.
[{"type":"text","content":"Revenue in Second Quarter 2022 of $2.25 Billion; an Increase of 4% Year-Over-YearSecond Quarter 2022 Net Income of $292 Million; Diluted EPS of $0.07Adjusted EBITDA of $679 MillionYear-to-Date Capital Returns to Stockholders of $1.6 BillionSiriusXM Reiterates Full-Year Financial Guidance; Expects Positive Full-Year Self Pay Net Subscriber AdditionsNEW YORK, July 28, 2022 /PRNewswire/ -- SiriusXM today announced second quarter 2022 operating and financial results, including revenue of $2.25 billion, an increase of 4% year over year. The company recorded net income of $292 million in the second quarter 2022 compared to $433 million in the prior year period. The prior year period benefited from $140 million of satellite insurance recoveries. Net income per diluted common share was $0.07 in the second quarter 2022 compared to $0.10 in the prior year period, or $0.08 excluding the satellite insurance recoveries recorded in the second quarter of 2021.\n\n \n \n \n \n \n \n\n \nAdjusted EBITDA was $679 million in the second quarter of 2022, down 3% from the second quarter of 2021. \n\"We are pleased with our results in the second quarter, and while we continue to navigate an uncertain economic environment, we delivered strong financial performance and continued to make strategic investments in our business that will set us up for an exciting new era at SiriusXM,\" said Jennifer Witz, Chief Executive Officer of SiriusXM. \"We remain committed to creating compelling experiences for our listeners by investing in innovative technologies to deliver best-in-class, curated, comprehensive audio entertainment. We remain equally committed to delivering consumers the best and widest choice in premium audio content. From launching pop-up channels celebrating Black Music Appreciation Month to acquiring Conan O'Brien's Team Coco to produce new content for our listeners, and most recently, expanding our relationship with the NFL to deliver the most extensive sports lineup in audio entertainment, we will continue to enhance our platform to ensure broad appeal.\"\n\"SiriusXM's churn was steady at approximately 1.5% in the quarter, underscoring the strength of our business, our products, and loyalty of our customers. In the second quarter, we delivered focused expansion in key streaming offerings and maintained a strong balance sheet,\" said Sean Sulliv...