SiriusXM Q3 net loss $2.96B on $3.36B goodwill impairment; revenue down 4%

SIRIUS XM HOLDINGS INC.

2024-Q3 EPS reported -$7.01 revenue$6,511,000,000

Net loss of $2.96B ($8.74 diluted EPS) driven by non-cash goodwill impairment of $3.36B from Liberty Media merger close.
Revenue $2.17B (-4% YoY); full-year 2024 revenue guidance reduced to ~$8.675B from prior outlook.
Adjusted EBITDA $693M (32% margin); free cash flow $93M, down 64% YoY, hit by $72M in transaction costs.
SiriusXM added 14K self-pay subscribers; Pandora lost 76K self-pay subs; churn held at 1.6%.
Reaffirmed full-year adjusted EBITDA (~$2.7B) and free cash flow (~$1B) guidance.

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