Sirius XM revenue beats estimates

Thu Nov 1, 2012 7:15am EDT

Nov 1 (Reuters) - Satellite radio company Sirius XM Radio Inc posted better-than-expected quarterly revenue as sales to subscribers jumped 15 percent.

Net income fell to $74.5 million, or 1 cent per share, in the third quarter, from $104.2 million, or 2 cents per share, a year earlier.

The New York-based company, which competes with free Internet radio services such as Pandora Media Inc, said total revenue rose 14 percent to $867.4 million.

Analysts expected revenue of $865.7 million, according to Thomson Reuters I/B/E/S.

Sirius last month said it added 446,00 net subscribers in the third quarter and raised its full-year forecast to 1.8 million net additions.