Sirius XM Gains on Car Sales
May 1, 2012
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Sirius XM Radio on Tuesday reported strong results for its first quarter, with increased revenue and subscription numbers helped by improved car sales.
Sirius reported $805 million in revenue for the first three months of 2012, up 11 percent over the same period the year before, and $108 million in earnings, or 2 cents a share. The company added 405,000 subscribers in the quarter, reaching a high of 22.3 million. Sirius said it now expected to gain 1.5 million subscribers for the year, up from its earlier estimate of 1.3 million.
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