Sirius XM Q1 Profit Rises; Increases 2015 Guidance For Revenue And Subscribers

(RTTNews) - Sirius XM Holdings Inc. (SIRI) reported first-quarter net income of $106 million, up 12% from $94 million prior year. Net income per share was $0.02, flat with prior year. Adjusted EBITDA was $399 million, up 19% from $335 million, a year ago.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $1.08 billion, up 8% from the first quarter of 2014. SiriusXM added 431 thousand net new subscribers in the first quarter, a 61% increase from the 267 thousand net new subscribers added in the first quarter of 2014. Analysts expected revenue of $1.09 billion for the quarter.

The company increased its 2015 guidance for revenue and subscribers, and reiterated its guidance for adjusted EBITDA and free cash flow. The company now expects net subscriber additions of approximately 1.4 million, and revenue of approximately $4.47 billion. Analysts expect the company to report fiscal 2015 revenue of $4.49 billion.