Sirius XM (SIRI) Tops Q1 EPS by 1c

April 25, 2018 7:11 AM EDT

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Sirius XM (NASDAQ: SIRI) reported Q1 EPS of $0.06, $0.01 better than the analyst estimate of $0.05. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.37 billion.

Total Subscribers Exceed 33 Million for First Time.

"SiriusXM has come out of the gate strong in 2018. Our 6% growth in revenue would have been 8% absent the change in generally accepted accounting principles that was effective January 1st, and we are pleased with our 6% growth in adjusted EBITDA given the sharp increase in our music royalties also beginning January 1st. We are on-track to meet all of our full-year guidance, and I'm thrilled to announce we topped 33 million paying subscribers," said Jim Meyer, Chief Executive Officer, SiriusXM.

"We continue to add compelling, diverse programming across our talk, sports, comedy, and music channels. We gravitate toward those who have played the game, made their mark, or are the true insiders who can tell you the story as no one else can. We launched a new classic hip hop channel with LL Cool J, and a new comedy channel with Kevin Hart. We added a limited run Southern Rock channel that was so popular we had to extend it, and we gave subscribers another reason to love us with a chance to win tickets to Springsteen On Broadway. And our bundle got even stronger with the launch of new, full-time sports channels from the country's biggest, most important college athletic conferences," added Meyer.

For earnings history and earnings-related data on Sirius XM (SIRI) click here.

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