Summary by Moomoo AI
Sirius XM, a leading audio entertainment company, reported mixed financial results for the year ended December 31, 2023. The company operates two main businesses, SiriusXM and Pandora and Off-platform, offering a range of music, sports, entertainment, and other content on a subscription basis. Despite a slight decrease in total consolidated revenue by 1% to $8,953 million compared to $9,003 million in the previous year, Sirius XM's subscriber revenue remained relatively stable at $6,342 million. Advertising revenue, however, saw a 14% decline to $169 million. The company's net income increased by 4% to $1,258 million, and income from operations decreased by 4% to $1,946 million. Sirius XM ended the year with approximately 33.9 million subscribers, while Pandora had about 46.0 million monthly active users and 6.0 million subscribers. The company also highlighted its...Show More