Sirius XM's Stock Gains After Better-than-expected Results

Shares of Sirium XM Holdings rose 1.4% in premarket trade Thursday after the satellite radio broadcaster reported better-than-expected fourth-quarter profit and net subscriber additions. For the quarter ended Dec. 31, earnings rose to $143.1 million, or 3 cents a share, from $65.1 million, or 1 cent a share, in the year-earlier period, beating the FactSet consensus analyst estimate of 2 cents a share. Revenue grew to $1.09 billion from $1 billion, while net subscriber additions totaled 576,689, above analyst forecasts of $1.08 billion and 537,000, respectively. Churn declined to 1.8% from 1.9%, while subscriber acquistion costs per installation declined to $33 from $34, compared with analyst projections of 1.86% and $34.8, respectively. The company affirmed its 2015 outlook for revenue of $4.4 billion and net subscriber additions of 1.2 million. The stock has gained 3.4% over the past three months, while the S&P 500 has tacked on 0.9%.