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Sirius XM revenue beats on higher subscriber additions
February 4, 2014 / 12:25 PM / 4 years ago

Sirius XM revenue beats on higher subscriber additions

Feb 4 (Reuters) - Satellite radio service Sirius XM Holdings Inc reported a better-than-expected 12 percent rise in revenue as it added more self-paying subscribers - those who stay on after an initial promotional period.

Net income fell to $65.2 million, or 1 cent per share, in the fourth quarter ended Dec. 31, from $156.2 million, or 2 cents per share, a year earlier.

Revenue increased to $1 billion from $892.4 million.

Analysts had expected earnings of 2 cents per share on revenue of $981.9 million, according to Thomson Reuters I/B/E/S.

Sirius added 411,484 net self-pay subscribers in the quarter, resulting in a record subscriber base of 21.1 million at the end of the year.

John Malone’s Liberty Media Corp said last month it would offer to buy out the company’s minority shareholders in a deal that could be worth more than $10 billion.

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