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SiriusXM Records $2.96 Billion Loss After Tracking Stock Merger

SiriusXM reported a decline in revenue and a nearly $3 billion net loss after it completed a financial maneuver that aimed at simplifying its stock

Tom Barry, SiriusXM’s chief financial officer, described seeing green shoots from the company’s investments in its subscription business and content, including 14,000 more net self-pay subscribers and a 6% increase in podcast advertising revenue. SiriusXM’s average revenue per user fell $0.53 to $15.16 due to a “higher proportion of subscribers on self-pay promotional and streaming-only plans,” the company said. Ambassador Nikki Haley, Gen Z political commentator Dylan Douglas, and the beloved former football coaches Jimbo Fisher and Bill Belichick.

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