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• | 2017 Revenue Climbs 8% to $5.4 Billion |
• | Self-Pay Net Subscriber Additions of 1.56 Million in 2017 |
• | 2017 Net Income Totals $648 Million After $185 Million Charge Related to the Tax Cuts and Jobs Act |
• | Adjusted EBITDA Grows 13% to a Record $2.12 Billion in 2017 |
• | Company Beats 2017 Financial and Subscriber Guidance, Confirms Expectations for Growth in 2018 |
• | Board of Directors Approves Additional $2 Billion to Share Repurchase Program |
• | Self-Pay Subscribers Exceed 27.5 Million. The Company added 527,000 net new self-pay subscribers in the fourth quarter and 1.56 million for the full-year to end 2017 with approximately 27.5 million self-pay subscribers. Total net additions in the fourth quarter and full-year were 569,000 and 1.39 million, respectively, taking the Company's total subscriber count to approximately 32.7 million at year-end. As of December 31, |
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These favorable variances were partially offset by higher revenue share and royalty costs due to growth in our revenues and royalty rates, programming and content, sales and marketing and engineering, design and development costs.
We have recorded provisional adjustments but we have not completed our accounting for income tax effects for certain elements of the Tax Act, principally due to the accelerated depreciation that will allow for full expensing of qualified property.
The increase was driven by higher net cash provided by operating activities resulting from improved operating performance, partially offset by an increase in additions to property and equipment resulting from new satellite construction.
The increase was primarily driven by higher net cash provided by operating activities resulting from improved operating performance partially offset by an increase in additions to property and equipment resulting primarily from new satellite construction.
The increase was primarily due to costs associated with a higher subscriber base driving increased bad debt expenses, transaction fees, and call center costs, partially offset by lower personnel-related costs and the classification of wireless transmission costs related to our connected vehicle services to Satellite and transmission expense in 2016.
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Satellite and Transmission consists of...Read more
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Depreciation and Amortization represents the...Read more
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Sirius Xm Holdings Inc. provided additional information to their SEC Filing as exhibits
Ticker: SIRI
CIK: 908937
Form Type: 10-K Annual Report
Accession Number: 0000908937-18-000014
Submitted to the SEC: Wed Jan 31 2018 11:41:55 AM EST
Accepted by the SEC: Wed Jan 31 2018
Period: Sunday, December 31, 2017
Industry: Radio Broadcasting Stations