Sirius XM Holdings Inc (SIRI)

[Easy1]

• Sirius XM (NASDAQ:SIRI) is up 1% premarket after a third quarter where it grew revenues 11% to a record and increased profits 23%, and increased guidance yet again.
• Subscribers hit an all-time high of almost 29M. Adjusted EBITDA of $447.2M was up 17% to a record high and beat an expected $427.8M.
• Revenue by segment: Subscriber revenue, $974.5M (up 8%); advertising revenue, $33.1M (up 31%); equipment revenue, $25.9M (up 11.9%); other revenue, $136.2M (up 28.3%).
• Added 525K net new subscribers (up 21%), and 381K self-pay net subs (flat). Total paid subscribers grew 8% to about 29M, and self-pay subs grew 8% to 23.8M.
• Free cash flow of $369M (excluding effect of settlement of pre-1972 recordings litigation) up 38%.
• It bumped full-year guidance yet again, and now expects revenues of $4.53B and adjusted EBITDA of $1.65B (slightly below a consensus of $1.68B). It's seeing full-year net subscriber adds of 2M and self-pay adds of more than 1.6M.