Sirius XM Q4 reports show lower income but spike in revenue

Sirius XM reported its fourth-quarter financial results. Net income for the period totaled $134.63 million, or 3 cents per share, down 5.9% from income of $143.12 million, or 3 cents per share, in the year-ago quarter. It was also a drop from Q3 2015, when the company posted $167 million in income. However, the Q4 results were in line with analysts predictions, which had forecast 3 cents per share for the final quarter of 2015. Quarterly revenue increased about 10% on-year to $1.20 billion, surpassing analysts’ expectations of $1.19 billion after a third-quarter revenue total of $1.17 billion.

The satellite radio company added 2.28 million net new subscribers over the course of the year, marking the highest growth in that metric since 2007. The number of total paid subscribers increased 8% to about 29.6 million in the year, with self-pay subscribers rising the same percentage to 24.3 million. Both of those subscriber metrics were record highs.

“We are investing in new marketing capabilities, our connected vehicle business, new satellites, a next generation wideband chipset and, most importantly, our world-class and exclusive content,” CEO Jim Meyer said. “We expect that these investments, together with our long-standing focus on execution, will help us continue our long history of strong, profitable growth.”