SiriusXM announced it added over a quarter million net new subscribers in the first quarter, reaching a record 25.8 million total subscribers. That’s a 6 percent increase from a year ago.
The satellite radio company still expects strong subscriber growth claiming that the number of subscribers now on a trial subscription is at an all-time high of almost 7 million.
For the year, SiriusXM expects to add 1.25 million subscribers.
For the quarter, the company announced an 11 percent jump in revenue to $998 million. Net income fell to $94 million, from $123 million a year ago. The shortfall was due to a one-time charge regarding Liberty Media stock repurchasing and accounting adjustments from the Sirius and XM merger, said the company.
Source: SiriusXM
