SiriusXM Records $2.96 Billion Loss After Tracking Stock Merger ...Middle East

SiriusXM reported a 4% decline in revenue and a nearly $3 billion net loss last quarter after it completed a financial maneuver that was aimed at simplifying its publicly traded stock, the company reported on Thursday. The $2.96 billion quarterly net loss stemmed from a $3.36 billion non-cash impairment charge, a type of accounting expense the means an asset’s value on the company’s balance sheet was written down. When SiriusXM merged with Liberty Media’s tracking stock in September, Liberty Media valued the company’s goodwill based on a sustained lower stock price. Related

Read More Details
Finally We wish PressBee provided you with enough information of ( SiriusXM Records $2.96 Billion Loss After Tracking Stock Merger )

Also on site :

• I Tried 15 Different Brands of Potato Chips and Found a New Favorite
• Paris arrested Telegram founder to meddle in Romanian election — Moscow
• This Tony Nominee Was Working for a Tasker App After Starring on Broadway (Exclusive)