Sirius XM Reports Solid Q4 Earnings, Expects Slowed 2016 Subscriber Growth

By Trey WilliamsMarketWatch Pulse

Sirius XM Holdings Inc. said Tuesday it had net income of $135 million, or 3 cents per share during its fiscal fourth quarter. That's compared with net income of $143 million, or 3 cents a share in the year-prior period. The FactSet consensus for earnings was 3 cents per share. Revenue for the quarter hit $1.2 billion, up from $1.1 billion the previous year and in-line with the FactSet consensus of $1.2 billion. Sirius added 2.3 million net new subscribers over the course of 2015, the company's largest growth since 2007, according to a news release. The company spent $369 million to buy back 92 million shares and in January bought back an additional 52 million shares, spending $200 million. Looking to 2016, Sirius is expecting subscriber growth to slow to 1.4 million for the full year and for revenue to be $4.9 billion, in-line with FactSet's consensus of $4.9 billion and up from $4.6 billion for 2015. The FactSet 2016 consensus for revenue is . Sirius shares were down 0.3% in pre-market trade.

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