Press release
Sirius XM profit rises 20 percent as subscriber numbers grow
Sirius XM also said it has bought Automatic Labs Inc., the maker of a device that plugs into a dashboard and can track road trips on an app, contact the authorities if it detects a crash or alert the driver to engine trouble. Sirius XM did not disclose the price.
Sirius XM added a net of 257,000 new subscribers in the quarter, for a total of about 31.6 million.
The New York-based company's net income rose to $207.1 million in the three months ending March 31, up from $172.4 million in the same quarter a year ago.
Its first-quarter earnings per share were 4 cents per share, matching Wall Street analysts' forecast, according to Zacks Investment Research.
Revenue rose 8 percent to $1.29 billion in the period, just missing the $1.3 billion that analysts expected, according to Zacks.
Sirius XM expects full-year revenue of $5.3 billion, slightly below the $5.36 billion that analysts expect, according to FactSet.
Shares of Sirius XM Holdings Inc., which have risen about 13 percent since the beginning of the year, fell 11 cents, or 2 percent, early Thursday to $5.
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