Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 2,138 $ 2,178 $ 4,206 $ 4,340
Cost of services:        
Subscriber acquisition costs 107 92 207 182
Sales and marketing 185 228 375 457
Product and technology 56 71 129 157
General and administrative 166 116 288 240
Depreciation and amortization 121 156 265 311
Impairment, restructuring and other costs 107 21 155 53
Total operating expenses 1,773 1,707 3,454 3,460
Income from operations 365 471 752 880
Other income (expense), net        
Interest expense (116) (126) (233) (255)
Other income, net 15 85 14 114
Total other expense (101) (41) (219) (141)
Income before income taxes 264 430 533 739
Income tax expense (59) (76) (124) (144)
Net income 205 354 409 595
Less net income attributable to noncontrolling interests 0 50 0 92
Net income attributable to Sirius XM Holdings Inc. $ 205 $ 304 $ 409 $ 503
Net income per common share:        
Basic (in USD per share) $ 0.61 $ 1.05 $ 1.21 $ 1.76
Diluted (in USD per share) $ 0.57 $ 0.74 $ 1.16 $ 1.37
Weighted average common shares outstanding:        
Basic (in shares) 338 338 338 338
Diluted (in shares) 357 378 357 375
Subscriber revenue        
Revenue:        
Total revenue $ 1,629 $ 1,658 $ 3,231 $ 3,338
Advertising revenue        
Revenue:        
Total revenue 432 443 826 845
Equipment revenue        
Revenue:        
Total revenue 46 47 87 97
Cost of services:        
Cost of services 2 2 4 5
Other revenue        
Revenue:        
Total revenue 31 30 62 60
Revenue share and royalties        
Cost of services:        
Cost of services 722 708 1,409 1,411
Programming and content        
Cost of services:        
Cost of services 151 148 304 305
Customer service and billing        
Cost of services:        
Cost of services 111 108 223 224
Transmission        
Cost of services:        
Cost of services $ 45 $ 57 $ 95 $ 115