Sirius XM Earnings: Strong Subscriber Addition, Raised Guidance Sum Up The Quarter

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  • Sirius XM’s revenue and EBITDA increased by over 10% year over year in Q2 fiscal 2016, driven by continued strength in subscriber additions
  • Though subscriber additions were slower than the year ago period, they remained strong at over half a million. And considering that the company now has close to 30 million subscriber, such an increase looks promising
  • The main highlight of the quarter, however, was the increase in annual guidance for subscriber additions, revenues, adjusted EBITDA, and free cash flow
  • This was the second consecutive quarter this year when the company has raised its guidance, which has pleased investors, as evident from the rise in stock price
  • Going forward, we expect solid growth in Sirius XM’s subscribers to continue backed by a high penetration in the new car market and increasing penetration into the used car space.
  • New car penetration rate is strong at 73%, one percentage point ahead of the year ago figure, and used car penetration rate has gone up to 29% from 26% in the first half of 2015

Sirius XM Q2 earnings

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Sirius XM
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