Sirius XM’s first quarter results were met with a negative market reaction, as revenue declined year-over-year and fell short of Wall Street expectations. Management attributed the softness to lower subscriber and equipment revenue, modest advertising trends, and ongoing macroeconomic uncertainty. CEO Jennifer Witz highlighted a significant improvement in in-car subscriber churn and stable customer satisfaction, noting that “churn improved 18 basis points, rounding to 1.6% in the first quarter,” even after recent price increases. The company’s core in-car business offset declines in streaming-only subscribers, while advertising revenue remained essentially flat, weighed down by softness in travel, auto, and retail sectors.
As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the wireless, cable and satellite industry, including Sirius XM (NASDAQ:SIRI) and its peers.
A highly volatile stock can deliver big gains - or just as easily wipe out a portfolio if things go south.
While some investors embrace risk, mistakes can be costly for those who aren’t prepared.
Wall Street has issued downbeat forecasts for the stocks in this article.
These predictions are rare - financial institutions typically hesitate to say bad things about a company because it can jeopardize their other revenue-generating business lines like M&A advisory.
Spotify stock hits all-time high on Tuesday. Goldman Sachs forecasts global music revenues to nearly double by 2035, driven by emerging markets and monetization innovations.
