SiriusXM stock slips ~9% after FY 2023 revenue, net adds guidance disappoints
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Shares of SiriusXM (NASDAQ:SIRI) on Thursday fell 9.3% to $5.32 in afternoon trading, after the audio entertainment company reported mixed Q4 results and provided FY 2023 revenue guidance below estimates.
SIRI earlier posted Q4 GAAP EPS of $0.09 which beat estimates by one cent. Revenue was flat Y/Y to $2.28B, which missed expectations by $30M.

The company said it anticipated total revenue of about $9B for FY 2023, which was lower than the consensus revenue estimate of $9.29B.
Moreover, SIRI CFO Sean Sullivan warned that the company expected "modestly negative self-pay net adds for the year as economic and demand uncertainty persists."
SIRI did not issue any guidance on subscribers.
The company said it ended 2022 with 32.4M self-pay subscribers, an increase of 348K for the year. On the other hand, paid promotional subscribers decreased by 76K for the year.
Meanwhile, SIRI's music streaming service Pandora finished 2022 with 47.6M monthly active users, down 9% from 52.3M in 2021.
SiriusXM (SIRI) stock fell 4.6% in 2022, but has started off 2023 with slight gains.