By Chelsey Dulaney
Sirius XM Holdings Inc. posted better-than-expected results in
its fourth quarter as it added more subscribers.
Sirius XM had 27.3 million total subscribers at the end of the
period, up from 25.6 million a year ago. During the quarter, the
company added a net 576,689 subscribers. Monthly churn, or the rate
at which subscribers left, edged down to 1.8% from 1.9%.
Overall, the company posted a profit of $143.1 million, or three
cents a share, up from $65.2 million, or a penny a share, a year
earlier.
Revenue grew 9.1% to $1.09 billion, driven in part by a 8.2%
increase in subscriber revenue to $922.2 million.
Analysts polled by Thomson Reuters expected per-share profit of
two cents and revenue of $1.08 billion.
Operating expenses grew 5.6% to $797.3 million as the company
spent more on customer service and billing, marketing and
equipment.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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