Sirius XM Shares Soar As Impairment Charge Hampers Q3 Results

By Adam R Jacobson and Cameron Coats

With Sirius XM Holdings shares going ex-dividend on November 5 and its value off by one-third since the start of 2024, some investors seem convinced that now is the time to buy — even as the satellite and streaming audio content creator and distributor reported third quarter earnings on Thursday that saw its per-share income impacted by a non-cash impairment charge.

Trading on the Nasdaq GlobalSelect market as “SIRI,” Sirius XM shares were up by nearly 7% within the first hour of trading on Friday, to $28.46. At the closing bell, a $27.65 price was seen, resulting in a 99-cent gain.