Sirius XM Adds Subscribers; Expects A Better 2010

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Earnings

Sirius XM Adds Subscribers; Expects A Better 2010

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Sirius XM Radio (NSDQ: SIRI), which has taken a hit over the last year due to the fall in car sales, has a bullish outlook for 2010. In reporting its earnings Thursday, the satellite radio company said it expected its revenue to grow in the “mid- to high-single digits” next year and to also see full-year subscriber growth. In a statement, CEO Mel Karmazin said the company expected to see growth in subscribers and revenue “regardless of the magnitude of any recovery.”

	3Q 2008	3Q 2009	Estimate
EPS	$-1.93	$-0.04	$-0.02
Net Income	$-217M	$-181M
Revenue	$612.78M	$630M	$608.71M

Already, the company’s results are improving. Revenue was up three percent during the quarter, and net losses were down, as it cut operating expenses sharply. And while the number of Sirus XM subscribers was down two percent compared to a year ago, it was up compared to the second quarter. The company said it had ended the quarter with 18.5 million subscribers.

And here’s an interview Karmazin did with CNBC today:

Release | Webcast

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