SiriusXM Touts 'Record Revenue' Of $1.3 Billion

Big Q1

SIRIUSXM has released first quarter 2017 operating and financial results, including record revenue of $1.3 billion, up 8% versus the prior year period.

Net income totaled $207 million in the first quarter 2017, up 20% from $172 million in the first quarter 2016. Net income per diluted common share grew 28% to $0.04 in the first quarter 2017, compared to $0.03 in the first quarter 2016. Adjusted EBITDA grew 14% in the first quarter 2017 to a quarterly record $502 million, compared to $441 million in the first quarter 2016.

"The year is off to a very solid start for our business, and we are on track to achieve our guidance for 2017," said SIRIUSXM CEO JIM MEYER. "I'm particularly proud of the record adjusted EBITDA of more than half a billion dollars and record adjusted EBITDA margin of 38.7% we recorded in the first quarter. We are also pleased to announce this morning the acquisition of AUTOMATIC LABS INC., an exciting company focused on innovative products that broaden our array of connected vehicle services."

"We remain focused on delivering a bundle of compelling, timely, and entertaining programming for subscribers who have come to expect the best in audio from SIRIUSXM," added MEYER. "We continue to air new voices from unique personalities, such as special series from BROOKE SHIELDS, comedic TV star JIM PARSONS, ANDRÉ LEON TALLEY of VOGUE fame, and a new daily show from CRAIG FERGUSON. In the first quarter, we again hosted a series of special subscriber-only events, including a great live performance from ED SHEERAN in NEW YORK CITY and our special Music Lounge in SOUTH BEACH MIAMI leading up to the ULTRA MUSIC FESTIVAL."

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