Thursday, October 27, 2016 10:22:44 AM
Source: Dow Jones News
By Joshua Jamerson
Sirius XM Holdings Inc. initiated a quarterly dividend of a penny a share and boosted its share-buyback program by $2 billion on Thursday, as the satellite radio company said profit rose 17% in the latest period.
Shares rose 2.1% to $4.33 premarket.
In its third quarter, Sirius XM said it added 345,000 net new subscribers, ending the quarter with 31 million total subscribers. Its number of subscribers who don't get Sirius's service as part of a promotion, described as self-paying subscribers, rose 385,000 to 25.5 million.
The company's self-pay churn rate, or the rate at which its subscribers left the service, was unchanged from a year ago at 1.9%. Its average revenue per user rose 3% to $13.04, which the company said was its highest ever.
Sirius XM's profit rose to $193.9 million from $166.5 million a year ago. On a per-share basis, earnings rose to 4 cents from 3 cents a share. Revenue grew 9.2% to $1.28 billion.
Analysts polled by Thomson Reuters had forecast 4 cents in per-share earnings on $1.23 billion in revenue.
The additional $2 billion in share repurchases will bring Sirius's total buyback authorization to $10 billion.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
October 27, 2016 08:23 ET (12:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Recent SIRI News
- SiriusXM to Report First Quarter 2024 Operating and Financial Results • PR Newswire (US) • 04/01/2024 08:30:00 PM
- SiriusXM to Present at the Deutsche Bank 32nd Annual Media, Internet & Telecom Conference • PR Newswire (US) • 02/27/2024 09:30:00 PM
- SiriusXM to Present at the Morgan Stanley Technology, Media and Telecom Conference • PR Newswire (US) • 02/27/2024 09:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:12:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:12:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:12:05 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:12:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:50 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:46 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:42 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:37 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:33 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:26 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:06 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:11:04 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 02:10:51 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 10:41:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 09:07:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/12/2024 09:15:03 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 06:13:59 PM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM