{"id":517976,"date":"2021-07-27T07:04:38","date_gmt":"2021-07-27T11:04:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/siriusxm-reports-second-quarter-2021-results\/"},"modified":"2021-07-27T07:04:38","modified_gmt":"2021-07-27T11:04:38","slug":"siriusxm-reports-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/siriusxm-reports-second-quarter-2021-results\/","title":{"rendered":"SiriusXM Reports Second Quarter 2021 Results"},"content":{"rendered":"
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– Second Quarter Revenue of $2.16 Billion; an Increase of 15% From Prior Year Period<\/h2>\n

– Second Quarter Net Income of $433 Million; Diluted EPS of $0.10<\/h2>\n

– Record Quarterly Adjusted EBITDA of $700 Million, Up 14% From Prior Year Period<\/h2>\n

– SiriusXM Self-Pay Net Subscriber Additions of 355,000, an Increase of 34% Year-Over-Year<\/h2>\n

– Company Increases 2021 Subscriber and Financial Guidance<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n NEW YORK<\/span>, July 27, 2021<\/span> \/PRNewswire\/ —\u00a0SiriusXM today announced second quarter 2021 operating and financial results, including revenue of $2.16 billion<\/span>, an increase of 15% compared to the prior year period.\u00a0 The company recorded net income of $433 million<\/span> in the second quarter of 2021, compared to $243 million<\/span> in the prior year period.\u00a0 Second quarter 2021 net income included $140 million<\/span> in insurance recoveries related to the company’s SXM-7 satellite.\u00a0 Net income per diluted common share was $0.10<\/span> in the second quarter 2021, compared to $0.05<\/span> in the prior year period.<\/p>\n

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\n \"SIRIUS
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Adjusted EBITDA in the second quarter was $700 million<\/span>, up 14% from $615 million<\/span> in the prior year period. <\/p>\n

“SiriusXM added an impressive 355,000 net new self-pay subscribers in the quarter, putting us on track to add 1.1 million self-pay subscribers this year \u2013 our best since 2018 \u2013 and we are increasing all of our financial guidance.\u00a0 The quarter was bolstered by record self-pay churn of just 1.5%, and we achieved strong monetization in our advertising business, with an increase in ad revenue of 82% from the prior year period and 20% from the second quarter of 2019,” said Jennifer Witz<\/span>, Chief Executive Officer of SiriusXM.<\/p>\n

“We have long been the leader in shaping the future of audio for listeners, and we continue doing so by providing curated and premium content in innovative formats.\u00a0 Earlier this month, we announced a new daily radio show hosted by Megyn Kelly<\/span> which will air exclusively from noon to two on SiriusXM beginning on September 7th.\u00a0 In addition, video of the best moments from the show will be available in our app to subscribers and a podcast version of the show will be distributed broadly on SiriusXM, Pandora, Stitcher and other major platforms.\u00a0 We brought on Roman Mars<\/span> and his podcast team at 99% Invisible and announced Seth Rogen<\/span> would do his first ever podcast with us starting in the fall.\u00a0 Our collaboration with TikTok is now live with Pandora playlists from the most dynamic creators on this massive social platform, and a new SiriusXM channel powered by TikTok is coming soon,” added Witz.<\/p>\n

“SiriusXM is also shaping the future business of audio by introducing SXM Media.\u00a0 SXM Media now serves as our new cross-platform advertising sales organization, a one stop shop for brands to gain access to our large base of 150 million digital listeners across SiriusXM, Pandora, Stitcher, and other publishers,” noted Witz.<\/p>\n

\n 2021 GUIDANCE<\/b>\n <\/p>\n

The Company increased its full-year 2021 guidance for self-pay net subscriber additions, revenue, adjusted EBITDA, and free cash flow:<\/p>\n