Sirius XM Radio Reports First Quarter 2010 Results
May 4, 2010 at 4:25 AM (PT)
SIRIUS XM RADIO has announced Q1 2010 financial and operating results, including $670.6 million in pro forma revenue, up 11% over first quarter 2009 pro forma revenue of $605.5 million; and $157.8 million in first quarter 2010 pro forma adjusted income from operations, an increase of 45% over first quarter 2009 pro forma adjusted income from operations of $108.8 million.
"Continued positive subscriber growth, double-digit growth in revenue, and a sharp focus on costs resulted in the highest quarterly adjusted operating income in the company's history," said CEO MEL KARMAZIN. "As the leader in audio entertainment, these results show the tremendous appeal of our service and the strength of our business model. The continuing recovery of the automotive sector and expanding signs of increased consumer spending are encouraging signs for the company's growth prospects."
SIRIUS XM ended the quarter with 18,944,199 subscribers, up 344,765 from 18,599,434 subscribers at the end of first quarter 2009.