Sirius XM Added 622,000 Subscribers in Q2.
CEO Mel Karmazin says Sirius XM had "an outstanding quarter across the board." The company reported record revenue of $838 million in the second quarter, up 13 percent over last year. Free cash flow grew to $230 million, also a Sirius XM quarterly record. Karmazin said the second quarter was "a microcosm of the company we said we would create. Our strategy is working."
Karmazin added that, although small, advertising revenue is growing and out-performing most radio companies." The company recorded an increase of 14 percent in advertising. 95 percent of the Sirius XM revenue comes from subscriber fees.
Add a Comment