Sirius XM Reports Q3 Inline With Expectations

Sirius XM Holdings, Inc. SIRI reported third quarter 2014 financial and operating results Tuesday.

The company reported revenue of $1.057 billion, above the average estimate of $1.04 billion, up 10 percent from $962 million in the third quarter of 2013.

Net income was $136 million, or $0.02 per diluted share, inline with estimates, an increase of 117 percent from $63 million, or $0.01 per diluted share, in the third quarter of 2013.

Adjusted EBITDA climbed 29 percent to a record $381 million in the third quarter of 2014 from $296 million in the third quarter of 2013.

Net subscriber additions in the third quarter were 432,817, bringing total subscribers up nearly 5 percent to 26.7 million. Self-pay net subscriber additions in the third quarter were 379,598, bringing the self-pay subscriber base up nearly 7 percent to 22.0 million.

Total trials underway at the end of the third quarter of 2014 were approximately 7.4 million, the largest in Sirius XM's history, up from approximately 6.9 million at the end of the third quarter of 2013.

"We are very pleased with the performance of SiriusXM in the third quarter, and we are entering the fourth quarter with tremendous momentum. So far this year we have added nearly 1.2 million subscribers, grown our Adjusted EBITDA margin by more than five percentage points, and increased free cash flow by 32 percent," said CEO Jim Meyer.

Sirius XM Holdings, Inc. traded at $3.38 in the premarket, up 0.90 percent.

Posted In: EarningsNews

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.