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3 years ago
Sirius XM revenue beats estimates as it adds more subscribers
April 24, 2014 / 11:25 AM / 3 years ago

Sirius XM revenue beats estimates as it adds more subscribers

April 24 (Reuters) - Satellite radio provider Sirius XM Holdings Inc reported a better-than-expected 11 percent rise in first- quarter revenue as more subscribers stayed on after an initial promotional period.

Revenue rose to $997.7 million from $897.4 million a year earlier. Analysts had expected $994.6 million, according to Thomson Reuters I/B/E/S.

Net income fell to $93.9 million, or 2 cents per share, from $123.6 million, or 2 cents per share, a year earlier.

Sirius added 173,480 net self-pay subscribers in the quarter ended March 31, raising the number of its subscribers to 25.8 million.

John Malone-controlled Liberty Media Corp, which owns 53 percent of Sirius, canceled an offer to buy the rest of the satellite radio provider in March. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)

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