Sirius XM (SIRI) Reports Q1: Everything You Need To Know Ahead Of Earnings

Satellite radio and media company Sirius XM (NASDAQ:SIRI) will be announcing earnings results tomorrow morning. Here’s what to look for.

Sirius XM beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $2.19 billion, down 4.3% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates. It reported 33.23 million core subscribers, down 1.9% year on year.

Is Sirius XM a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Sirius XM’s revenue to decline 3.8% year on year to $2.08 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.66 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sirius XM has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Sirius XM’s peers in the wireless, cable and satellite segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comcast posted flat year-on-year revenue, meeting analysts’ expectations, and AT&T reported revenues up 2%, topping estimates by 1%. Comcast traded down 1.5% following the results while AT&T was up 2.1%.

Read our full analysis of Comcast’s results here and AT&T’s results here.

Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the wireless, cable and satellite stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.8% on average over the last month. Sirius XM is down 1.3% during the same time and is heading into earnings with an average analyst price target of $24.10 (compared to the current share price of $21.67).

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