4-28-15
First quarter revenue for the Satellite company was up 8% to $1.08 Billion. The company also added 431 thousand new subscribers, a 61% increase from the 267 thousand added in the first quarter of 2014. Free cash flow of $276 million was up 24%, while free cash flow per share of $0.49 was up 36%. SiriusXM now has 27.7 million paying subscribers. The company has increased its 2015 revenue and subsciber guidance, now projecting it will generate $4.47 Billion in revenue and add 1.4 million new subscribers rather than 1.2 million.
SiriusXM Chief Financial Officer & Executive Vice President David Frear said, "For the second quarter in a row, we have been pleasantly surprised by the strength of our subscriber performance. Once again, the quarter was a little better than we expected on all fronts resulting in a lot better than we expected in total. All acquisition channels, new car, used car, win back and aftermarket are performing well; and with improved churn, it was the best first quarter for self-pay net adds that we have had in seven years. You have to go back to the first quarter of 2008 to find a bigger quarter ? first quarter for us."
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