NEW YORK - Sirius XM Holdings Inc. (NASDAQ: NASDAQ:SIRI) announced today that its first-quarter earnings per share (EPS) matched analyst expectations at $0.07, while revenue exceeded forecasts, coming in at $2.16 billion against a consensus estimate of $2.13 billion. The revenue figure represents a beat and has led to the company's stock price rising by 2.52% in market response.
The audio entertainment giant's revenue performance this quarter has evidently resonated well with investors, as reflected in the positive stock movement following the announcement. SiriusXM's first-quarter revenue not only surpassed analyst projections but also indicated the company's robust operational capacity in a competitive market.
Looking forward, SiriusXM provided its financial guidance for the full year 2024, projecting revenues to reach $8.75 billion. This forecast is slightly below the analyst consensus of $8.79 billion. The mid-point of the company's guidance range falls short of market expectations, which could be a point of focus for investors assessing the company's growth trajectory.
Jennifer Witz, CEO of SiriusXM, stated, "Our strong revenue performance this quarter reflects our commitment to delivering exceptional content and services to our listeners." This comment underscores the company's focus on maintaining a leading position in the audio entertainment industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.