Sirius subs up 10%
March 16, 2009
Satellite radio provider Sirius XM reported that its revenues increased 16 percent in the fourth quarter, its first full quarter as a combined company, to $644 million and were up 18 percent for the full year 2008 to $2.44 billion.
Also, despite the bailout investment from Liberty Media, the company said it posted positive adjusted income from operations for the first time in Q4, reporting a $32 million profit as opposed to the $224 million loss it reported for the same period last year.
Sirius XM expanded its subscriber base in 2008 by 10 percent year-over-year to end the year with about 19 million users, though the rate of that growth slowed in the fourth quarter to only 83,000 net net subs.