SiriusXM Reports Fourth-Quarter Revenues Hit $1.5 Billion

Strong Q4

SIRIUSXM has released fourth quarter and full-year 2018 operating and financial results, including record revenue of $1.5 billion and $5.8 billion, respectively, increasing 7% and 6% compared to the prior year periods.

The Company's net income totaled $251 million in the fourth quarter, compared to $(37) million in the prior year period, while full-year 2018 net income grew 81% to a record $1.2 billion. Net income (loss) per diluted common share was $0.06 in the fourth quarter, compared to $(0.01) in the prior year period, while full-year 2018 net income per diluted common share grew 88% to $0.26. Adjusted EBITDA grew 6% to $576 million in the fourth quarter, and grew 6% for the full-year 2018 to a record $2.2 billion.

"SIRIUSXM had a strong finish to 2018, a year that saw our ninth consecutive year of one-million-plus net subscriber adds and our lowest full-year churn rate in the past decade. We have set even more ambitious goals for the Company to continue growing in 2019. In addition, we were pleased that yesterday PANDORA's stockholders voted in favor of our proposed merger, and expect to close the transaction shortly," said CEO JIM MEYER.

"Our disciplined approach to business models carries through to our programming decisions as a creator and curator of exclusive, compelling programming in talk, music and sports. We recently announced a special concert by KISS on the SUNSET STRIP, held a subscribers-only performance by RICKY GERVAIS in NEW YORK, launched back-to-back daily political shows with CNN's CHRIS CUOMO and ABC's DAN ABRAMS, and brought on two new full-time college sports channels. And this week, we are offering an unrivaled array of channels and shows from Radio Row at SUPER BOWL LIII in ATLANTA," added MEYER.

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