SiriusXM Posts Good Quarter – Ups Guidance

money-cash-up-arrow-lineThe big news with SiriusXM’s Q2 was not that they hit the analysts targets, but rather what the future holds in store.  The company reported a profit of 2 cents per share on revenue of $1.12 billion and a profit of $102.8 million.  SiriusXM raised its subscriber guidance from 1.4 million additions this year to 1.8 million.  The company also raised its revenue forecast to $4.5 billion.  Highlights of the quarter included:

  • Self-pay Net Additions Increase 37% to 519,000
  • Record Second Quarter Revenue up 8% to $1.12 Billion
  • Net Income of $103 Million, Including a Pre-tax $108 Million Settlement
  • Adjusted EBITDA Climbs 12% to a Record $415 Million
  • Free Cash Flow Reaches $371 Million, up 11%
  • GAAP EPS of $0.02; Adjusted EPS of $0.03, Excluding Settlement

It is also notable that SiriusXM repurchased 144 million of its own shares during the quarter for $560 million.  The company improved its churn to 1.6%, which would seem to indicate that the product remains sticky.  The success in converting trial subscriptions to self paying subscriptions was about 41%, in line with recent quarters.  The company reports an average revenue per user per month at $12.42. and a subscriber acquisition cost of just $32.  This implies that the company can break even on a subscriber after just 2.5 months.

SiriusXM stock now trades in the $4 range and seems to be getting upgrades from the street.

radiomic

SiriusXM To Launch Bill Carter Show

SiriusXM has announced that company will launch “The Bill Carter Interview,” a weekly one-hour program in which esteemed former New York Times reporter and best-selling author Bill Carter will sit down with major figures from all sides of the entertainment industry and beyond.  The show will add yet another layer of breadth to the satellite… → Read More

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SiriusXM Settles Royalty Lawsuit For $210 Million

Fresh off of what could only be considered a legal victory in Florida, SiriusXM Satellite Radio made a decision to settle a lawsuit regarding royalties of pre-1972 music.  The company announced Friday that it was had reached a settlement on the issue and will pay $210 million.  SiriusXM gets to use pre-1972 recordings without any… → Read More

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SiriusXM Gets “FOXier”

SiriusXM and Fox News have joined forces in the creation of a new news channel that will launch this Fall.  The channel will be called Fox News Headlines 24/7, and in contrast to current Fox offerings on SiriusXM, will be geared toward radio.  Currently, many popular news channels on television simulcast the coverage to satellite… → Read More

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SiriusXM Scores Court Victory In Pre-1972 Recordings

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Judge Certifies Class Action Suit For Pre-1972 Recordings

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Millennials Get Radio Show On SiriusXM

SiriusXM has announced the launch of “Career Playbook Radio,” an all-new career advice show hosted by Jim Citrin, partner at executive search firm Spencer Stuart and best-selling author on leadership and career success. “Career Playbook Radio” is focused on giving millennials, young professionals, and parents of recent college grads expert insight into getting a great… → Read More

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SiriusXM Misses On Earnings But Raises Guidance

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Jaguar and Land Rover Expand Deal With SiriusXM

Jaguar Land Rover North America and SiriusXM have announced Jaguar Land Rover has selected Sirius XM Connected Vehicle Services Inc., a subsidiary of SiriusXM, to provide call center support for safety and security services to vehicle occupants using its Jaguar InControl® and Land Rover InControl® infotainment systems. The Jaguar and Land Rover InControl suite of… → Read More

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March Auto Sales Mixed – Still Good For SiriusXM

U.S. auto sales in March of 2015 were a bit of a mixed bag if you look at the headlines, but growth is still happening, sales are on a pace for 17 million, and SiriusXM remains in a good position to install a large amount of satellite radios into new vehicles. With Q1 sales complete,… → Read More