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SiriusXM Reports Decline in Paid Subscribers Despite Revenue Growth, Leading Stock to Fall 7% ...Middle East
A dip in SiriusXM’s paid subscribers in the first quarter caused the satellite radio giant’s stock to fall by more than 7% on Tuesday (April 30), even as first-quarter revenue beat analysts’ expectations. The company reported that first-quarter revenue inched 0.8% higher to $2.16 billion — analysts polled by the London Stock Exchange were expecting $2.13 billion — thanks mainly to a 7% uptick in ad sales revenue. Related SiriusXM Cuts 3% of Workforce to Invest in Content
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