SIRI $25.71 +0.27%

SIRI · Sirius Xm Holdings Inc.

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$25.71 +0.07 (+0.27%)

S&P 400 member Russell 1000 member Rebalance outlook locked

Market Cap

$8.71B

337.07M

Volume · Oct 2 5.32M Avg daily vol (3M) 4.04M

All webcasts

Earnings call · FY2026 Q2

Sirius Xm Holdings Inc. (SIRI) Q2 2026 Earnings Call

Concluded Jul 30, 2026

Jul 30, 2026 0 turns

Period: FY2026 Q2
Runtime: —
Sources: 2 artifacts

8-K 10-Q

Executive readout · one minute

What matters this quarter

SiriusXM reported Q2 2026 revenue of $2.16 billion (+1% YoY), net income up 17% to $239 million, and raised full-year 2026 guidance for revenue, adjusted EBITDA, and free cash flow by $25 million each.

AWS growth and AI demand 45 AI services and agents (Bedrock, SageMaker, Kiro, Quick) 35 Grocery, perishables and everyday essentials 32 Security and AWS Continuum 21 Long-term contracts and pricing 14 Supply chain inflation and component costs 9

Management tone

Confident

Net tone +78 · low hedging

Grounding quotes

“Q2 was another very strong quarter for Amazon.”
“our backlog stands at $496 billion, growing triple digits year over year”
“AWS is now a $169 billion annualized revenue run rate business, which for perspective would place a 24th on the Fortune 500 list if it was a standalone company”

Forward guidance

3 guided metrics

Management's latest ranges and targets are included below.

Research coverage

2 live sources

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Revenue $2.16B +1% YoY

Diluted EPS $0.70 +22.8% YoY

Gross margin 53.0% +0.6 pp YoY

Net income $239.00M +16.6% YoY

Research materials

Open the source you need; every reader stays inside this workspace.

8-K earnings release Filed Jul 30, 2026 10-Q report Filed Jul 30, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Q2 net income rose 17% YoY to $239 million, with EPS up 23% to $0.70.
Free cash flow jumped 48% YoY to $593 million.
SiriusXM achieved positive self-pay net additions of 22,000 (first positive quarter in four years) with record-low self-pay churn of 1.4%.
Company raised full-year 2026 guidance by $25 million across revenue, adjusted EBITDA, and free cash flow.

↓ Risks & pressure points

Equipment revenue declined 22% YoY due to higher memory costs on hardware modules.

Key moments

Read the management remarks selected from the transcript.

“We now believe we will spend approximately $220 billion in cash CapEx in 2026, the higher cost of memory pushing this number up from our prior estimate of about $200 billion. But even at that amount, we will still not have enough capacity to meet all the demand we have in 2026.” Andy Jassy, CEO

“We've long believed AWS could become a few hundred billion dollar revenue business, and now believe it'll be at least double that, and very possibly be a trillion dollar annual revenue business for us in time, with very appealing accompanying free cash flow and return on invested capital.” Andy Jassy, CEO

Forward guidance

From the 8-K filed Jul 30, 2026.

Metric	Period	Guided	Basis
Total revenue Initiated full-year 2026	full-year 2026	$8.53B	—
Free cash flow Initiated full-year 2026	full-year 2026	$1.38B	Non-GAAP
Adjusted EBITDA Initiated full-year 2026	full-year 2026	$2.63B	Non-GAAP

Quarter detail

How the reported period landed and where the business moved.

Revenue · segments

SiriusXM$1.62B +0.2% YoY

Pandora and Off Platform$543.00M +3.6% YoY

Capital returned

Buybacks · derived: $6.00M
Shares repurchased: 229,895

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