SiriusXM Saw Serious Revenue Growth of 37 Percent in Third Quarter
Driven, in part, by the February acquisition of Pandora
Satellite radio company SiriusXM saw serious revenue growth in the third quarter with total revenue of $2.0 billion, a 37% increase year-over-year. The revenue boost was driven by the acquisition of Pandora in February of this year for $3.5 billion. The company reported net income of $246 million, down from $343 million during the same period last year. Net income per diluted common share was $0.05 for the third quarter of 2019, compared to $0.07 for the third quarter of 2018. SiriusXM attributed the net income decrease to refinancing expenses.
Subscription Insider now embargoes NEWS and FEATURE articles 14 days after they are published.
All registered site users can enjoy access to our full archive of news and feature content by logging in.
Remember — Subscription Insider membership includes access to all embargoed content.
Subscription Insider has upgraded to a new technology platform and our login process has changed:
FOR FREE EMBARGOED ACCESS:
- Newsletter Subscribers (Free): Please log in using the email you used to signup for our Newsletter. The first time you log in, you will need to reset your password.
- Registered Site Users: Please use the email and password you used when you registered for free site access for Subscription Insider.