Sirius XM Radio, Inc. (SIRI) Misses Q4 EPS by 1c, Sales Beat

February 4, 2014 7:04 AM EST
Sirius XM Radio, Inc. (NASDAQ: SIRI) reported Q4 EPS of $0.01, $0.01 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $1 billion versus the consensus estimate of $981.92 million.

Income from operations was $245 million and $1.0 billion in the fourth quarter and full-year 2013, respectively. Adjusted EBITDA increased 41% in the fourth quarter to a record $326 million. Full-year 2013 adjusted EBITDA was $1.17 billion, an increase of 27% from $920 million in 2012.

Total subscriber acquisition costs were $124 million in the fourth quarter, or just 12% of adjusted revenue, the lowest percentage in the Company's history.

Self-pay subscriber net additions were 411,484 in the fourth quarter, resulting in an all-time high self-pay subscriber base of 21.1 million at year end, up 8% year-over-year.

"The fourth quarter of 2013 capped a year of records and milestones for SiriusXM. We delivered our first ever billion dollar revenue quarter, and our first ever quarter with adjusted EBITDA and free cash flow each over $300 million. Our adjusted EBITDA margin of 32.5% in the fourth quarter was the highest in the history of the Company. We remain excited about continuing our track record of delivering profitable growth in 2014, with the goal of enhancing free cash flow while making investments in key long-term initiatives," noted Jim Meyer, Chief Executive Officer, SiriusXM.

Sirius XM Radio, Inc. sees FY2014 revenue of over $4 billion versus the consensus of $4.13 billion.

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

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