Sirius XM Radio Grows Subs to 25.8 Million in First Quarter

Sirius XM Radio on Thursday reported improved first-quarter adjusted earnings amid continued subscriber growth.

The satellite radio company, controlled by John Malone's Liberty Media, added 266,799 subscribers on a net basis in the latest quarter, ending it with a total of 25.8 million paid subscribers, a new company record.

Sirius, led by CEO Jim Meyer, reported first-quarter adjusted earnings of $121 million, up 46 percent compared with $83 million in the year-ago period. Before adjusting for special items, earnings dropped from $123.4 million to $94.0 million.

Quarterly adjusted operating cash flow, the profitability metric that Sirius focuses on, jumped 28 percent to a record $335 million. Revenue increased 11 percent to $998 million.

Said Meyer: "Our business continues to perform well."

Sirius has predicted that it would add approximately 1.25 million net subscribers this year.

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