SiriusXM Reports Second Quarter 2017 Results
markets.siliconinvestor.com
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. |
