Blog Post

Earnings: Sirius XM Ups Guidance, Subscriber Losses Smaller Than Expected

Sirius XM (NSDQ: SIRI) cut its losses during the quarter, as it benefited from savings due to the merger between Sirus and XM a year ago. Acquisition costs per subscriber dropped 20 percent to $57, from $71.

The company also managed to eek out an increase in revenue, despite losing about one percent of its subscriber base during the quarter. That outflow was less than analysts had expected — and there’s hope that the company will benefit from the government’s “Cash for clunkers” program. Sirius XM upped its guidance for adjusted income from operations for the year by $50 million.

2Q 2008 2Q 2009
EPS $(0.06) $(0.04)
Net Income $(203M) $(171.3M)
Revenue $601M $608M

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