SIRIUS XM Radio Inc. (SIRI) Reports In-Line Q1 EPS; Subs Up 9%; Affirms Outlook

May 3, 2011 7:03 AM EDT
SIRIUS XM Radio Inc. (NASDAQ: SIRI) reported Q1 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $723.8 million versus the consensus estimate of $736.34 million.

Affirms outlook.

Net adds of 373,064, up 118 percent.

Ending subscribers as of March 31, 2011 were 20,564,028, up 9% from the 18,944,199 subscribers reported as of March 31, 2010.

Subscriber acquisition cost (SAC) per gross subscriber addition was $57 in the first quarter of 2011, a 3% improvement from the $59 reported in the first quarter of 2010.

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