SIRIUS XM Radio Inc. (SIRI: Quote) reported that its first-quarter net income was $107.77 million or $0.02 per share, up from $78.12 million or $0.01 per share in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $804.72 million from $723.84 million in the prior year quarter. Eleven analysts had consensus revenue estimate of $803.83 million for the quarter.
Self-pay net subscriber additions improved by 148% to 299,348 and the subscriber base rose to an all-time high of 22.3 million subscribers.
The company now expects to grow its net new subscribers by 1.5 million in 2012. The company reiterated its existing 2012 revenue, adjusted EBITDA and free cash flow guidance. The company expects revenue of approximately $3.3 billion, Adjusted EBITDA of approximately $875 million, and Free cash flow of approximately $700 million.
Thirteen analysts have consensus revenue estimate of $3.36 billion for fiscal 2012.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org