Sirius Adds 355,000 Subscribers, Revenue Climbs
February 02 2017 - 9:14AM
Dow Jones News
By Joshua Jamerson
Satellite-radio company Sirius XM Holdings Inc. continued to
grow its subscriber base in the fourth quarter, helping revenue
climb 9%.
Sirius XM said it added 355,000 net new subscribers, and ended
the year with about 31.3 million total subscribers. The company's
self-pay churn rate, or the rate at which its subscribers left the
service, was unchanged from a year ago at 1.9%.
The company projected net additions of self-pay net subscribers,
which it defines as those who don't get Sirius's services as part
of a promotion, of about 1.3 million in 2107. It also guided for
revenue this year of $5.3 billion, in-line with analysts surveyed
by Thomson Reuters.
Sirius XM reported net income of $204.6 million, or 4 cents a
share, compared with $134.6 million, or 3 cents a share, a year
ago. Revenue grew to $1.3 billion from 1.19 billion a year ago.
Analysts expected 4 cents a share in earnings on $1.29 billion
in revenue.
Shares rose 0.8% to $4.81 premarket.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
February 02, 2017 08:59 ET (13:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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