Sirius Xm Holdings Inc. (SIRI) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
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Sirius Xm Holdings Inc.
Ticker: SIRI CIK: 908937

Exhibit 99.1

SiriusXM Reports Second Quarter 2017 Results


•	Net Self-Pay Subscribers Grow 466,000; Total Subscribers Exceed 32 Million


•	Second Quarter Revenue Climbs 9% to $1.3 Billion


•	Quarterly Net Income Rises 16% to $202 Million


•	Adjusted EBITDA Grows 12% to a Quarterly Record of $522 Million


•	Quarterly Operating Cash Flow Rises 12% to $483 Million; Free Cash Flow Grows 6% to $417 Million


•	Company Increases Full-Year Guidance for Self-Pay Net Additions, Revenue, and Adjusted EBITDA

NEW YORK – July 27, 2017 – SiriusXM today announced second quarter 2017 operating and financial results, including record revenue of $1.3 billion, up 9% versus the prior year period.

Net income totaled $202 million in the second quarter 2017, up 16% from $175 million in the second quarter 2016. Net income per diluted common share grew 22% to $0.043 in the second quarter 2017, compared to $0.035 in the second quarter 2016. Adjusted EBITDA grew 12% in the second quarter 2017 to a record $522 million, compared to $468 million in the second quarter of 2016. Operating cash flow in the second quarter 2017 increased 12% to $483 million, compared to $432 million in the second quarter 2016. Free cash flow in the second quarter 2017 grew 6% to $417 million, compared to $395 million in the second quarter 2016.

“In the second quarter, SiriusXM continued its strong track record of execution, and demand for our premium content bundle pushed our listener base to an all-time high of more than 32 million paying subscribers. We are pleased to raise our full-year guidance for net self-pay subscriber additions, revenue, and adjusted EBITDA. We also made tremendous progress on strategic initiatives in the second quarter with the closing of our recapitalization of SiriusXM Canada, our acquisition of Automatic Labs, and our agreement to acquire a minority stake in Pandora Media,” said Jim Meyer, Chief Executive Officer, SiriusXM.

“Our mission and passion is to deliver to millions of subscribers nationwide the best content anywhere in an easy, accessible way. We were thrilled to launch The Beatles Channel, the first official full-time radio channel featuring the band and its individual members, and listeners love it. You can now listen to The Beatles and our channels by simply asking your Amazon Alexa device to play SiriusXM. And we continue to award lucky subscribers with exclusive, SiriusXM-only live shows such as last week's critically acclaimed Guns N' Roses performance at the Apollo Theater,” added Meyer.

SECOND QUARTER 2017 HIGHLIGHTS


•	SiriusXM Reaches 32 Million Subscribers. The company added 466,000 net new self-pay subscribers in the second quarter 2017 to end with nearly 26.7 million self-pay subscribers. Total net additions in the quarter were 445,000, after giving effect to the decline of approximately 20,000 paid promotional subscribers. The company ended the quarter with approximately 32.0 million total subscribers.


•	Strong Quarterly Revenue and ARPU. Second quarter revenue climbed 9% to a record $1.3 billion. The growth was driven by a 5% increase in subscribers and a 3% increase in average revenue per user (ARPU) to $13.22, a record high.


•	Record Adjusted EBITDA. Adjusted EBITDA in the second quarter of 2017 reached a record $522 million, up 12% from $468 million in the second quarter of 2016. Adjusted EBITDA margin was 38.7% in the second quarter of 2017, a 90 basis point increase from 37.8% in the second quarter 2016.

The following information was filed by Sirius Xm Holdings Inc. (SIRI) on Thursday, July 27, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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