SIRI Sirius XM Holdings Inc

By Robert Barba

Sirius XM Holdings Inc. (SIRI) reported a drop in earnings in the latest quarter as higher revenue was offset by higher expenses.

Net income for the fourth quarter was $243 million, or 5 cents a share, compared with $251 million, or 6 cents a share, a year earlier.

Analysts polled by FactSet expected 5 cents a share.

Revenue was $2.06 billion, up from $1.5 billion a year earlier. Analysts expected $2.02 billion in revenue.

Advertising revenue surged to $403 million from $53 million a year ago. Subscriber revenue grew 15%, to $1.57 billion.

Operating expenses were $1.67 billion, up from $1.04 billion a year earlier.

Write to Robert Barba at robert.barba@wsj.com

(END) Dow Jones Newswires

February 04, 2020 07:33 ET (12:33 GMT)

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