Sirius’ Q1 revenues increased 61% to a record $204 million (€150 million), with subscribers increasing more than by over half a million to nearly 6.6 million overall. Following this strong performance, Sirius is now the satellite radio leader with 66 percent segment share of net subscriber additions during the period, beating soon to be merged competitor XM.
Sirius CEO Mel Karmazin was bullish and believes the merger with XM will ultimately be approved by the end of the year.
Commenting on the figures, Craig Moffett, Bernstein Research, said: “On some days, subscriber growth is all that matters. And given the above-consensus subscriber results, today is probably one of those days for Sirius, who reminded satellite radio investors that demand for satellite radio is far from dead, and it’s not just about the merger.”
Related Links
