Sirius XM Reports Lower 4Q Earnings, Higher Revenue
04 February 2020 - 11:48PM
Dow Jones News
By Robert Barba
Sirius XM Holdings Inc. (SIRI) reported a drop in earnings in
the latest quarter as higher revenue was offset by higher
expenses.
Net income for the fourth quarter was $243 million, or 5 cents a
share, compared with $251 million, or 6 cents a share, a year
earlier.
Analysts polled by FactSet expected 5 cents a share.
Revenue was $2.06 billion, up from $1.5 billion a year earlier.
Analysts expected $2.02 billion in revenue.
Advertising revenue surged to $403 million from $53 million a
year ago. Subscriber revenue grew 15%, to $1.57 billion.
Operating expenses were $1.67 billion, up from $1.04 billion a
year earlier.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
February 04, 2020 07:33 ET (12:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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