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Sirius XM revenue beats as subscriber additions rise 5 pct
July 29, 2014 / 11:51 AM / in 3 years

Sirius XM revenue beats as subscriber additions rise 5 pct

July 29 (Reuters) - Satellite radio service Sirius XM Holdings Inc reported a stronger-than-expected 10 percent rise in quarterly revenue as it added more paying subscribers.

Sirius XM said it had 26.3 million paying subscribers at the end of the second quarter, a rise of 5 percent from a year earlier.

However, the company’s net income fell to $120 million, or 2 cents per share, in the three months to ended June 30, from $125.5 million, also 2 cents per share, a year earlier.

Revenue rose to $1.04 billion from $940.1 million.

Analysts had expected earnings of 2 cents per share on revenue of $1.02 billion, according to Thomson Reuters I/B/E/S. (Reporting By Aurindom Mukherjee; Editing by Ted Kerr)

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