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The Zacks Consensus Estimate for second-quarter earnings has remained constant at 8 cents per share in the past 30 days. The figure has remained unchanged from the year-ago quarter’s reported number.
The consensus mark for revenues is pegged at $2.2 billion, indicating a 2.02% decrease from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 14.44%.
Let’s see how things have shaped up for this announcement.
Sirius XM’s second-quarter subscriber revenues are expected to have suffered despite an expanding content catalog of live sporting events and a solid portfolio of streaming services, including the 2024 PGA Championship, Indianapolis 500, NBA All-Star and MLB.
SIRI’s subscriber revenues in the first quarter declined 1% from the year-ago quarter to $1.7 billion. This trend is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for the company’s subscriber revenues is pegged at $1.66 billion, indicating a decline of 3.6% year over year.
In the to-be-reported quarter, Sirius XM announced Pandora Media LLC as the first audio publisher to adopt Unified ID 2.0, offering advertisers an identity solution with precision targeting, frequency management and measurement. This is likely to have aided advertisement revenues in the to-be-reported quarter.
Advertisement revenues in the first quarter increased 7% year over year to $402 million. The Zacks Consensus Estimate for SIRI’s second-quarter advertisement revenues is pegged at $457.9 million, indicating a rise of 2.9% year over year.
Sirius XM continues to bolster its content offerings by adding content from all spheres, including music, politics, news and sports, to its platform. The company provided extensive coverage of college football bowl games, including coverage of the 2024 Formula 1 and 2024 U.S. Open Championship.
SIRI faces intense competition in the streaming space from the likes of Apple (AAPL - Free Report) and Spotify (SPOT - Free Report) , which is expected to hurt the top line in the near term. Apple continues to bolster its presence in the music streaming space backed by acquisitions of Shazam and Asaii. Spotify, the dominant name in the market, is also ramping up its efforts to expand its subscriber base on the back of partnerships with other tech giants.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SIRI has an Earnings ESP of 0.00% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stock to Consider
Here is a stock worth considering, as our model shows that it has the right combination of elements to beat on earnings this season.
Image: Bigstock
Sirius XM (SIRI) to Report Q2 Earnings: What's in Store?
Sirius XM (SIRI - Free Report) is set to report second-quarter 2024 earnings on Aug 1.
The Zacks Consensus Estimate for second-quarter earnings has remained constant at 8 cents per share in the past 30 days. The figure has remained unchanged from the year-ago quarter’s reported number.
The consensus mark for revenues is pegged at $2.2 billion, indicating a 2.02% decrease from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 14.44%.
Let’s see how things have shaped up for this announcement.
Sirius XM Holdings Inc. Price and EPS Surprise
Sirius XM Holdings Inc. price-eps-surprise | Sirius XM Holdings Inc. Quote
Factors to Consider
Sirius XM’s second-quarter subscriber revenues are expected to have suffered despite an expanding content catalog of live sporting events and a solid portfolio of streaming services, including the 2024 PGA Championship, Indianapolis 500, NBA All-Star and MLB.
SIRI’s subscriber revenues in the first quarter declined 1% from the year-ago quarter to $1.7 billion. This trend is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for the company’s subscriber revenues is pegged at $1.66 billion, indicating a decline of 3.6% year over year.
In the to-be-reported quarter, Sirius XM announced Pandora Media LLC as the first audio publisher to adopt Unified ID 2.0, offering advertisers an identity solution with precision targeting, frequency management and measurement. This is likely to have aided advertisement revenues in the to-be-reported quarter.
Advertisement revenues in the first quarter increased 7% year over year to $402 million. The Zacks Consensus Estimate for SIRI’s second-quarter advertisement revenues is pegged at $457.9 million, indicating a rise of 2.9% year over year.
Sirius XM continues to bolster its content offerings by adding content from all spheres, including music, politics, news and sports, to its platform. The company provided extensive coverage of college football bowl games, including coverage of the 2024 Formula 1 and 2024 U.S. Open Championship.
SIRI faces intense competition in the streaming space from the likes of Apple (AAPL - Free Report) and Spotify (SPOT - Free Report) , which is expected to hurt the top line in the near term. Apple continues to bolster its presence in the music streaming space backed by acquisitions of Shazam and Asaii. Spotify, the dominant name in the market, is also ramping up its efforts to expand its subscriber base on the back of partnerships with other tech giants.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SIRI has an Earnings ESP of 0.00% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stock to Consider
Here is a stock worth considering, as our model shows that it has the right combination of elements to beat on earnings this season.
Cognizant Technology Solutions (CTSH - Free Report) has an Earnings ESP of +0.09% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Cognizant Technology have lost 1.3% year to date. CTSH is set to report second-quarter 2024 results on Jul 31.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.