Sirius Adds 355,000 Subscribers, Revenue Climbs

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 [e-mail]

(END) Dow Jones Newswires

February 02, 2017 08:59 ET (13:59 GMT)

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