July 31 (Reuters) - SiriusXM on Thursday
reported a smaller-than-expected quarterly decline in
subscribers who pay directly, aided by strong demand for its
exclusive content, especially podcasts, and a deal with popular
television host Trevor Noah.
The audio entertainment company's performance was also
boosted by agreements with automotive dealers to offer
three-year subscriptions for in-built car radios, partnerships
with electric vehicle makers and the launch of its Podcasts+
package.
The company lost 68,000 self-pay subscribers in the second
quarter, compared with a decrease of 303,000 in the
January-March period. This was also better than estimated losses
of 176,840 by Visible Alpha.
SiriusXM's podcast segment was the highlight for the
quarter, with revenue rising 50% year-on-year.
During the reported quarter, the company also signed a new
agreement with television host Trevor Noah to launch an original
podcast spanning comedy, culture and current events.
SiriusXM posted second-quarter revenue of $2.14 billion,
largely in line-with with analysts' average estimate of $2.13
billion, according to data compiled by LSEG.
Net income for the quarter stood at $205 million, compared
with $354 million a year ago.
Revenue from its Pandora and Off-platform segments fell 3%
in the quarter, mainly due to smaller subscriber base and
reduced demand for music streaming.