4-30-13
Sirius XM Radio Q1 revenue was up 12 percent over the same quarter in 2012. Revenue was $897 million compared to 2012 Q1 revenue of $805 million. Net income for the first quarter 2013 and 2012 was $124 million and $108 million, respectively. The company says subscribers grew by 453,000 in the first quarter, now totaling 24.4 million.
New CEO James Meyer says, "SiriusXM's first quarter results show a continuation of our trend of strong, profitable growth. We turned in our best first quarter for subscriber additions since the merger, and with our continuing sharp focus on costs, we set an all-time high for adjusted EBITDA. With our strong free cash flow and low leverage, we repurchased 209 million shares so far and have now returned nearly $1 billion in total to our stockholders since the end of December via stock buybacks and a special dividend."
