SIRI Stock Recent News

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News of layoffs in the tech sector aren't abating, and if anything, they're picking up steam. Sirius XM (NASDAQ: SIRI ) has once again generated headlines in this regard today, announcing the company has already let go of around 3% of its workforce.

Satellite audio firm SiriusXM is trimming its global workforce by about 3% in an effort to become “more efficient, agile, and flexible,” CEO Jennifer Witz wrote in a memo to employees. The company last year unveiled a significant revamp of its app and made a number of talent deals in a push into podcasts.

Sirius XM has seen its subscriber base flatline in recent years. There is a lot of competition in the audio entertainment space.

Sirius XM is the undisputed leader in its space, despite competition from other music services. The company is making moves to remain competitive with streaming music services.

Sirius XM's (SIRI) fourth-quarter 2023 results reflect improvement in equipment revenues, offset by a decline in Sirius XM Standalone's average revenue per user and subscriber base.

The rise in demand for music streaming comes with its drawbacks for broadcasting companies that are used to offering a more diversified suite of listening options, as SiriusXM noted, following the launch of its new streaming app. The radio company shared in its fourth-quarter and full-year 2023 earnings report Thursday (Feb.

While the top- and bottom-line numbers for Sirius XM (SIRI) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Sirius XM (SIRI) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.09 per share a year ago.

Sirius XM (NASDAQ: SIRI), a leading provider of satellite radio, is scheduled to announce its fiscal fourth-quarter results on Thursday, February 1. We expect Sirius XM stock to likely trade lower with revenues missing but earnings matching market expectations in the fourth quarter results.