Exhibit 99.1


 
 
x1c84851a001imagea10.jpg
SiriusXM Reports First Quarter 2018 Results
 
Total Subscribers Surpass 33 Million for First Time
First Quarter Revenue Climbs 6% to $1.4 Billion
Total Net Subscriber Additions of 330,000 in the Quarter
Net Income Grows 40% to $289 Million; Adjusted EBITDA Grows 6% to $532 Million
Operating Cash Flow Climbs 34% to $415 Million; Free Cash Flow Climbs 31% to $326 Million
Company Reiterates Financial and Subscriber Guidance for 2018

NEW YORK – April 25, 2018 SiriusXM today announced first quarter 2018 operating and financial results, including revenue of $1.4 billion, increasing 6% versus the prior year period.
 
The Company's net income totaled $289 million in the first quarter 2018, compared to $207 million in the first quarter 2017. Net income per diluted common share was $0.06 in the first quarter 2018, compared to $0.04 in the first quarter 2017. Adjusted EBITDA grew 6% in the first quarter 2018 to $532 million, a first quarter record. Free cash flow and operating cash flow in the first quarter 2018 increased 31% and 34%, respectively, to $326 million and $415 million.
 
“SiriusXM has come out of the gate strong in 2018. Our 6% growth in revenue would have been 8% absent the change in generally accepted accounting principles that was effective January 1st, and we are pleased with our 6% growth in adjusted EBITDA given the sharp increase in our music royalties also beginning January 1st. We are on-track to meet all of our full-year guidance, and I’m thrilled to announce we topped 33 million paying subscribers," said Jim Meyer, Chief Executive Officer, SiriusXM.
 
“We continue to add compelling, diverse programming across our talk, sports, comedy, and music channels. We gravitate toward those who have played the game, made their mark, or are the true insiders who can tell you the story as no one else can. We launched a new classic hip hop channel with LL Cool J, and a new comedy channel with Kevin Hart. We added a limited run Southern Rock channel that was so popular we had to extend it, and we gave subscribers another reason to love us with a chance to win tickets to Springsteen On Broadway. And our bundle got even stronger with the launch of new, full-time sports channels from the country’s biggest, most important college athletic conferences,” added Meyer.
 
FIRST QUARTER 2018 HIGHLIGHTS
 
Total Subscribers Exceed 33 Million for First Time. The Company added 206,000 net new self-pay subscribers in the first quarter to end with approximately 27.7 million self-pay subscribers. Total net additions in the first quarter were 330,000, taking the Company's total subscriber count to approximately 33.1 million at quarter-end.
Strong Revenue Growth Despite Accounting Headwind. First quarter revenue grew 6% compared to the year ago period to $1.4 billion, a first quarter record. This growth was driven by a 5% increase in subscribers as average revenue per user (ARPU) stayed flat year over year at $12.95. The first quarter 2018 saw the adoption of the new revenue recognition accounting standard (FASB ASU 2014-09) which reclassified approximately $24 million of revenue to offset expenses principally related to automaker agreements.
Net Income Grows 40%. Net income in the first quarter totaled $289 million, up 40% from $207 million in the first quarter 2017. This increase included a $31 million unrealized gain associated with the change in fair value of the Company's Pandora investment, in addition to approximately $50 million of tax savings resulting from a 21.7% rate in the first quarter compared to 35.5% in the prior year period.



The following information was filed by Sirius Xm Holdings Inc. (SIRI) on Wednesday, April 25, 2018 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.

View differences made from one quarter to another to evaluate Sirius Xm Holdings Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Sirius Xm Holdings Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account