Categories Analysis, Earnings, Technology

SiriusXM’s stock gains after Q4 revenues top estimates

SiriusXM Holdings Inc.’s (SIRI) shares were up 2.8% in morning trade on Wednesday after the company topped market expectations on revenues for the fourth quarter of 2018 while earnings came in line with estimates.

Total revenues grew 7% to $1.5 billion from the same period last year, helped by growth in all segments. The company reported a net income of $251 million or $0.06 per share in the quarter compared to a net loss of $37 million or $0.01 per share in the year-ago quarter.

During the quarter, SiriusXM added 414,000 net new self-pay subscribers. Total net subscriber additions were 346,000 in the fourth quarter, bringing the total number of SiriusXM subscribers at the end of 2018 to over 34 million.

SiriusXM beats estimates on Q3 revenue and earnings

In September, SiriusXM announced its decision to acquire Pandora Media in an all-stock transaction. On January 29, the acquisition was approved by Pandora’s shareholders and SiriusXM expects to close the deal shortly.

Also see: SiriusXM Q4 2018 Earnings Conference Call Transcript

For full-year 2019, SiriusXM expects total revenue to be approx. $6.1 billion. Adjusted EBITDA is expected to be approx. $2.3 billion while free cash flow is expected to be approx. $1.6 billion. Self-pay net subscriber additions are expected to approach 1 million.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top