SiriusXM best ever quarter
April 29, 2016
By Chris Forrester
US pay-radio operator SiriusXM has reported its Q1 numbers and declared that the quarter was their best-ever with revenues climbing 11 per cent to $1.2 billion, and issued fresh guidance for the rest of this year saying that it now expected to add 1.6 million net new subs this year (previous guidance was for 1.4 million).
During the quarter-year SiriusXM reduced its issued shares by 3 per cent, spending $588 million to buy back in 159 million of its common stock shares.
The progress takes the broadcaster to 30.1 million total subs having added a net 465,000 during the three months, and adding overall 8 per cent to the December 31st total of 27.7 million.