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Earnings analysis · 10-Q

SIRI earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

Sirius XM Holdings Inc. reported Q1 2026 revenues of $2.09 billion, a 1% increase from the prior year, while EPS reached $0.72, also surpassing estimates of $0.71. Management reaffirmed its guidance for revenue and…

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Sirius XM Holdings Inc. reported Q1 2026 revenues of $2.09 billion, a 1% increase from the prior year, while EPS reached $0.72, also surpassing estimates of $0.71. Management reaffirmed its guidance for revenue and EBITDA for 2026, citing a decent year-over-year growth in both free cash flow and net income despite a slight decline in subscriber counts.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.72
Operating margin
21.7%
Segment
SiriusXM
Segment
Pandora and Off-platform

What stood out

  • Revenue Growth of 1%

    Total revenue reached $2.09 billion, up 1% year-over-year from $2.07 billion.

  • EPS Beat Estimates

    Diluted EPS was reported at $0.72, beating the consensus estimate of $0.71.

  • Increased Free Cash Flow

    Free cash flow for Q1 2026 increased compared to the prior period, reporting $400 million.

  • Operating Income Improved

    Operating income was $454 million, reflecting a 17% increase from $387 million a year ago.

  • Improved Net Income

    Net income rose to $245 million, up 20% compared to $204 million in Q1 2025.

  • SiriusXM Segment Revenue Up

    SiriusXM segment revenue grew by 1%, from $1.58 billion to $1.59 billion.

What to watch

  • Decline in Subscriber Count

    SiriusXM's total subscriber base slightly decreased by 0.1 million subscribers to approximately 32.8 million.

  • Challenges in Advertising Revenue

    SiriusXM advertising revenue decreased by 10%, from $39 million to $35 million, due to lower demand.

  • Regulatory Risks Persist

    No changes in risk factors since the last 10-K, maintaining exposure to consumer protection laws.

Management's outlook

Management reaffirms guidance for 2026 revenue and EBITDA.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.