Sirius XM Reports 1% Revenue Growth to $2.16 Billion in Q2 2026

Sirius XM Holdings Inc. reported its financial results for the second quarter of 2026, revealing a total revenue of $2.16 billion, a slight increase of 1% from $2.14 billion in the same period last year. For the first half of 2026, the company generated $4.25 billion in revenue, up from $4.21 billion in the first half of 2025. The growth in revenue was primarily driven by a 1% increase in subscriber revenue, which reached $1.64 billion for the quarter, and a notable 8% rise in advertising revenue, totaling $454 million. However, equipment revenue declined by 22% to $36 million, attributed to rising memory costs associated with hardware.

In terms of profitability, Sirius XM reported a net income of $239 million for the second quarter, compared to $205 million in the prior year, marking a 17% increase. For the first half of 2026, net income was $484 million, up from $409 million in the same period of 2025. The company’s diluted earnings per share rose to $0.70, up from $0.57 a year earlier. The increase in profitability was supported by a reduction in total operating expenses, which decreased by 5% to $1.69 billion for the quarter, primarily due to lower general and administrative costs and a significant reduction in impairment and restructuring costs.

Sirius XM's operational metrics showed a slight increase in its subscriber base, with a total of approximately 32.87 million subscribers as of June 30, 2026, up from 32.80 million a year prior. The company also reported a decrease in average self-pay monthly churn to 1.4%, down from 1.5% in the previous year, indicating improved customer retention. However, Pandora, a subsidiary of Sirius XM, experienced a decline in monthly active users, dropping to approximately 39.8 million, a decrease of 7% from the previous year.

Strategically, Sirius XM has continued to invest in its content and technology, with a focus on enhancing its audio entertainment offerings. The company has also been active in its stock repurchase program, having repurchased shares worth $27 million during the first half of 2026. Looking ahead, Sirius XM anticipates that its subscriber revenue will remain relatively flat, with higher average revenue per user offset by a decline in the number of average subscribers. The company expects to continue leveraging its advertising capabilities, particularly through its Pandora platform, to drive revenue growth in the coming quarters.