SiriusXM Hits 26 Million Subscribers, Posts Earnings for 2nd Quarter
Sirius XM Radio on Tuesday reported improved adjusted second-quarter earnings as it continued to grow subscribers.
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Sirius, the radio home of Howard Stern, added more than 475,000 net new subscribers in the latest quarter, ending it with a total of more than 26.3 million paid subscribers, a new company record.
In comparison, Netflix as of the end of June had 36.2 million U.S. subscribers.
The company, controlled by John Malone's Liberty Media, posted adjusted earnings of $131 million, up 60 percent.
Without the adjustments though, earnings fell 4.4 percent on higher expenses.
Revenue rose 10 percent from $940.1 million to $1.04 billion.
Sirius XM CEO Jim Meyer lauded the "extraordinary operating performance" in the latest period as the company raised its full-year 2014 financial guidance.
This article was first published by The Hollywood Reporter