JOURNAL ARTICLE

SiriusXM Tumbles on 2025 Revenue Outlook as Firm Outlines Cost Cuts.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Golum, Rob 3 of 3

Abstract

Sirius XM Holdings Inc., the online radio service known for Howard Stern, saw its shares drop by 9.8% after issuing a 2025 revenue forecast below Wall Street estimates. The company plans to implement a new cost-cutting initiative, aiming for $200 million in savings next year. Sirius also announced changes in its leadership team and outlined its 2025 financial goals, including reducing debt by $700 million. Warren Buffett's Berkshire Hathaway Inc. is the largest shareholder in Sirius. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/12, pN.PAG
  • Document Type:Article
  • Subject Area:Communication and Mass Media
  • Publication Date:2024
  • Accession Number:181546574
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