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Sirius XM Gains on Car Sales

May 1, 2012

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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