Sirius XM (SIRI) Reports In-Line Q1 EPS; Lifts Oulook
- Wall Street ekes out gains to close languid week
- 'Faster than Porsche but Safer than Volvo': Tesla (TSLA) Begins Model S Plaid Deliveries, Priced Between $131,100 and $145,600
- Oil hits multi-year highs in third weekly gain on demand recovery
- Snowflake (SNOW) Falls Following Investor Day Despite Strong Guidance, Analysts Bullish But Say Investors May Have Wanted More
- Dollar looks stronger as euro and sterling dip
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Sirius XM (NASDAQ: SIRI) reported Q1 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.18 billion.
"SiriusXM's results exceeded our expectations in the first quarter, and I'm especially pleased we were able to add 465,000 net new subscribers, leading to an 8% increase in subscribers over the prior year. With excellent subscriber growth so early in the year, we are raising our guidance for full year net subscriber additions to 1.6 million. We set first quarter records for revenue, adjusted EBITDA, and free cash flow, and we are on track to achieve all of our financial goals this year," noted Jim Meyer, Chief Executive Officer, SiriusXM.
"With a new full time music channel from Kenny Chesney, live broadcasts from major music festivals, special popup channels for David Bowie and Billy Joel, as well as new talk shows, and unmatched coverage of the presidential primaries, SiriusXM continues to be the leader in audio entertainment. We are always looking to deliver new, compelling content to our subscribers," added Meyer.
INCREASED 2016 GUIDANCE
The company now expects to add 1.6 million net new total subscribers in 2016, an increase from prior guidance of 1.4 million. SiriusXM's 2016 guidance for continued growth in self-pay subscribers, revenue, adjusted EBITDA, and free cash flow remains unchanged. The company's full guidance is as follows:
- Net self-pay subscriber additions of approximately 1.4 million,
- Total net subscriber additions of approximately 1.6 million,
- Revenue of approximately $4.9 billion,
- Adjusted EBITDA of approximately $1.78 billion, and
- Free cash flow of approximately $1.4 billion.
For earnings history and earnings-related data on Sirius XM (SIRI) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chewy (CHWY) Tops Q1 EPS by 12c, Revs Beat Slightly
- BlueCity Holdings (BLCT) Reports Q1 Revenues Miss
- Kaspien (KSPN) Misses Q1 EPS by 2c, Revenues Beat
Create E-mail Alert Related CategoriesEarnings, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!