09:10 AM EST, 12/10/2024 (MT Newswires) -- SiriusXM Holdings (SIRI) unveiled Tuesday an updated strategic plan that sharpens its focus on its core subscription business and issued 2025 revenue guidance below analysts' expectations.

The company expects full-year 2025 revenue of $8.5 billion. Analysts polled by FactSet are forecasting $8.74 billion.

SiriusXM also said that an authorized $1.17 billion stock repurchase program remains in place.

SiriusXM added that it is now targeting an additional $200 million of annualized savings exiting 2025, after delivering an aggregate of approximately $350 million of run rate savings in 2023 and 2024.

Shares were over 4% lower in recent premarket activity.