SiriusXM Third-Quarter Revenues Up 8%

Record Revs

SIRIUSXM has released third-quarter 2017 operating and financial results, including record revenue of $1.4 billion, up 8% versus the prior year period.

Net income totaled $276 million in the third quarter 2017, up 42% from $194 million in the third quarter 2016. Net income per diluted common share grew 49% to $0.06 in the third quarter 2017, compared to $0.04 in the third quarter 2016. Adjusted EBITDA grew 12% in the third quarter 2017 to a record $551 million, compared to $492 million in the third quarter of 2016. Operating cash flow in the third quarter 2017 increased 24% to $521 million, compared to $422 million in the third quarter 2016. Free cash flow in the third quarter 2017 grew 22% to $434 million, compared to $357 million in the third quarter 2016.

"SIRIUSXM delivered a very strong third quarter despite headwinds from slowing auto sales and the impact of severe weather in many parts of the U.S. We recorded our best-ever quarter for adjusted EBITDA and its corresponding margin — which reached 39.9%. SIRIUSXM is pleased to once again raise our full-year guidance for revenue, adjusted EBITDA and free cash flow. In SEPTEMBER, we also completed our $480 million strategic investment in PANDORA and recently announced a 10% hike in our quarterly dividend," said CEO JIM MEYER.

"We continue to create and broadcast the best audio entertainment available today, whether it's in music, comedy, talk or sports. We love to take care of our subscribers and will do it again this weekend in NASHVILLE with a special and exclusive event with THE EAGLES at the GRAND OLE OPRY HOUSE, where the group has never played before," added MEYER. "It follows a great SUMMER and FALL of live concerts with a series of established and emerging stars, such as CHICAGO, LORDE, DWIGHT YOAKAM and THE KILLERS, to name a few. And we continue to add new music channels and draw world class talent to our comedy, sports and talk programming."

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