— SiriusXM Holdings Inc. (NASDAQ: SIRI) reported its third-quarter 2019 earnings of $0.05 per share versus $0.06 per share expected.
— Total revenue climbed by 37% to $2 billion boosted by the acquisition of Pandora Media, and pro forma revenue rose by 7% to $1.9 billion. This is compared to the consensus estimates of $1.98 billion.
— SiriusXM added 302,000 net new self-pay subscribers in the third quarter to end with more than 29.6 million self-pay subscribers.
— Total net subscriber additions in the third quarter were 210,000, resulting in more than 34.6 million total SiriusXM subscribers at the end of the period.
— SiriusXM’s business revenue rose by 7% on an increase in total SiriusXM subscribers and growth in SiriusXM’s average revenue per user.
— Monthly Active Users (MAUs) at Pandora declined to 63.1 million from 68.8 million in the prior-year period. Total ad-supported listener hours fell to 3.32 billion from 3.59 billion a year ago.
— Pandora added 33,000 net new self-pay subscribers in the third quarter to end with nearly 6.3 million self-pay subscribers. The total subscribers included a paid promotional subscriber base of 45,000.
— Looking ahead into the full year 2019, the company expects pro forma revenue of about $7.85 billion and adjusted EBITDA approaching $2.4 billion. Free cash flow is predicted to be about $1.625 billion.
— SiriusXM self-pay net subscriber additions are anticipated to approach 1 million during the full year 2019.
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