Sirius XM Radio Q3 Results Miss Analysts Expectations

(RTTNews) - Sirius XM Radio Inc.'s (SIRI) third-quarter 2013 net income declined to $62.89 million, from $74.5 million, a year ago, while quarterly earnings remained flat at 1 cent per share. The company missed analysts' estimates by a penny. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.02 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue climbed to $961.51 million, from $867.36 million in the earlier year period. Analysts estimated revenues of $969.67 million for the quarter. The company said it plans to add a net 1.6 million subscribers this year. It ended the quarter with 25.6 million subscribers.

Looking ahead, the firm increased its 2013 expectation for total net subscriber growth and revenue, reduced its estimate for 2013 self-pay net subscriber growth, and reiterated its existing guidance for adjusted EBITDA and free cash flow.

For 2014, Sirius XM provided initial guidance for revenue of more than $4.0 billion, and adjusted EBITDA of some $1.38 billion. Analysts project revenue of $4.18 billion for the year 2014.