Sirius XM Lifts Outlook

Sirius XM Holdings Inc. on Thursday lifted its revenue and subscriber guidance for the year again, as new subscriber additions jumped 21% in the third quarter.

Shares of Sirius, up 12% this year, added 1% in premarket trading.

Sirius now expects net subscriber additions of 2 million, up from its prior guidance of 1.8 million. The company is forecasting revenue of $4.53 billion, compared with its previous guidance of $4.5 billion.

During the quarter ended Sept. 30, Sirius XM added a net 525,000 new subscribers, compared with net additions of 433,000 a year ago.

Total paid subscribers grew 8% to 29 million, as monthly churn, or the rate at which subscribers left, was flat at 1.9%.

Overall, the company posted a profit of $166.6 million, or 3 cents a share, up from $136.2 million, or 2 cents a share, a year earlier. Revenue grew 11% to $1.17 billion.

Analysts polled by Thomson Reuters had forecast 3 cents a share in earnings on $1.15 billion in revenue.

Write to Chelsey Dulaney at [e-mail]

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(END) Dow Jones Newswires

October 22, 2015 08:05 ET (12:05 GMT)

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