Sirius XM Posts Improved Q4 Earnings And Revenue, Adds 1.75 Mln Subscribers In 2016

By Trey Williams Markets MarketWatch Pulse

Sirius XM Holdings Inc. reported improved fourth-quarter earnings and revenue on Thursday. Net income for the quarter was $204.6 million, or 4 cents per share, compared with $134.6 million, or 3 cents during the same period a year ago. Sirius' per-share earnings came in right at FactSet's consensus of 4 cents. Revenue hit $1.30 billion during the quarter, up from $1.20 billion during the year-earlier quarter and just ahead of FactSet's forecast for $1.29 billion. The satellite radio broadcasting company said it added 1.75 million net subscribers during the full year 2016, more than the 1.65 million FactSet expected. Sirius expects to add 1.30 million self-pay subscribers during 2017 and expects revenue of approximately $5.30 billion, above the FactSet consensus of $5.01. Shares of Sirius are up more than 33% in the trailing 12-month period, while the S&P 500 Index is up nearly 20% in during the same time frame.

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