SiriusXM Earnings Meet Analyst Expectations
SiriusXM reported earnings of $135M for the fourth quarter of 2015, which met analyst expectations; That’s compared to $143M from the same period a year ago.
For the full year, the company reported $510M in net income, compared to $493M for full-year 2014. The company cited strong car sales for the boost.
Quarterly net subscriber additions were some 634,000, compared to 577,000 new subs for the same period a year ago.
The satcaster reported total subscribers at 29.54M at the end of the year.
For 2015, the company added net 2.3M subscribers, which it said was the highest growth in net subscribers since 2007, before the merger of Sirius Satellite Radio and XM Satellite Radio.
SiriusXM CEO Jim Meyer said the company is investing in better ways to find potential new subscribers and marketing to them, as well as its connected vehicle business, new satellites, a next-gen wideband chipset, as well as in content. “We expect that these investments, together with our long-standing focus on execution, will help us continue our long history of strong, profitable growth,” he said on the earnings call.