What To Expect From Sirius XM’s Q2 Earnings
Subscriber Growth To Drive Top Line
Subscriber revenue contributes nearly 82% of Sirius’s overall revenue, and this revenue grew 4% in the first quarter of 2018, primarily driven by an increase in the daily weighted average number of subscribers and ARPU.
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SiriusXM’s robust net subscriber growth is expected to drive the company’s Q2 revenues. SiriusXM’s offering of differentiated content, coupled with the robust growth of streaming services, should boost its subscriber base. In addition, the company is also experimenting with the launch of video services, which should further boost its subscriber base and provides a significant long-term growth opportunity. We will be interested to hear if the company’s management boosts its full year outlook.
SiriusXM Grows Steadily In The New And Used Car Market
The rebound in the auto industry sparked stronger-than-expected new car sales in Q1’18, which helped Sirius’ penetration in the new and used car market. SiriusXM steadily increased its penetration in the new car market and reported it to be around 76%, while used car penetration stood at 37%. Further, the auto industry rallied on after a minor blip in April. Strong new car sales in May and June, coupled with renewals of multi-year OEM deals, should help SiriusXM increase its penetration in the new car space. In addition, SiriusXM has been concentrating on increasing its penetration rate in the used car market as well.