7-24-13
Sirius XM announced Q2 2013 revenue of $940 million, up 12 percent from second quarter 2012 revenue of $838 million. Net income for the quarters 2013 and 2012 was $126 million and $3.1 billion, respectively. Net income in the second quarter of 2012 benefited from a $3 billion reversal of deferred income tax valuation allowances. The company also reported net subscriber additions of 715,762, up from 622,042 in Q2 2012, marking the largest quarterly gain since Q4 2007. The total paid subscriber base has reached a record 25.1 million, up 9 percent from the prior year period.
CEO Jim Meyer said, "SiriusXM's second quarter results reflect record performance on almost every vital metric: the 25 million subscriber milestone, record revenue, adjusted EBITDA, and adjusted EBITDA margin. We grew our revenue at double-digit rates for the sixth consecutive quarter while being very mindful of our costs as we invest in advanced IP and telematics platforms designed to provide more services to our subscribers and automakers."
