SiriusXM Q2 Revenue Climbs 10% to $1.2 Billion
| RADIO ONLINE | Wednesday, July 27, 2016 |
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SiriusXM reported second quarter revenue of $1.23 billion, up 10% from $1.12 billion in 2015. Net income totaled $173 million (3 cents per diluted share), up 68% from $103 million (2 cents) in the year ago period. EBITDA rose 13% to $468 million from $415 million. SiriusXM subscribers surpassed 30.6 million as the company added 587,000 net new subscribers, an increase of 8% from 28.4 million. Self-pay net additions were 507,000, resulting in self-pay subscribers of 25.1 million, up 7% versus the prior year period.
"SiriusXM's second quarter results demonstrated continued strong demand for our content bundle and solid execution by our entire team. We grew net new subscribers by 587,000 in the second quarter, and our subscriber base, revenue, adjusted EBITDA, and free cash flow have never been higher. We are pleased to once again raise our key guidance metrics for the full year," said SiriusXM CEO Jim Meyer.
