Sirius 4Q earnings more than double Satellite
Satellite radio company Sirius XM Radio Inc. said Tuesday that its fourth-quarter net income more than doubled, helped by higher revenue from a growing number of paying subscribers.
The company also said it ended 2012 with 2 million more subscribers than at the end of 2011, and provided a revenue estimate for this year that topped Wall Street expectations.
The company earned $156.2 million, or 2 cents per share, in the three months that ended on Dec. 31. That's up from $71.3 million, or 1 cent per share, in the same period a year earlier. Revenue rose 14 percent to $892.4 million from $783.7 million. Analysts, on average, were expecting earnings of 2 cents per share on revenue of $899.7 million, according to a poll by FactSet.
- Associated Press
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