variety.com
Jim Meyer
Jem Aswad-Senior
Covid-19
pandemic
economy
Music
and
Jim Meyer
Jem Aswad-Senior
SiriusXM Revenues and Earnings Rise, Despite Plunging Auto Sales and Advertising
Reading now: 430
variety.com
variety.comBy Jem Aswad Senior Music Editor Sirius XM’s revenue and earnings rose more than expected in its first quarter, but the satellite-radio giant said it lost 143,000 net subscribers for the first quarter, while adding 69,000 self-paying ones.
The company reported a profit of $293 million, or 7 cents a share, compared to $162 million, or 3 cents a share, the same period last year.
Revenue rose 12% to $1.95 billion, beating expectations by .02 billion. At the end of March it had more than 34.8 million subscribers, including more than 30 million self-pay users.
Chief Executive Jim Meyer said he expects the company to “continue to generate substantial positive free cash flow” but withdrew its 2020 guidance. “Once we have a better view of how
Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Report this news
Related News
Celebrities
Locations