SiriusXM has announced its second quarter 2018 operating and financial results, including revenue of $1.4 billion, which is an increase of six percent compared to the same quarter a year ago. The company’s net income totaled $292 million in the second quarter, compared to $202 million in Q2 of 2017.
“SiriusXM’s strong start to 2018 accelerated in the second quarter. We added 483,000 net new self-pay subscribers in the quarter with an impressive 1.6% self-pay churn rate, our best-ever performance. Our 6% growth in revenue would have been 8% absent the change in generally accepted accounting principles that was effective January 1st, and we are thrilled to increase our full-year guidance for self-pay net additions, revenue and adjusted EBITDA,” said CEO Jim Meyer.
“We never rest in finding, acquiring, and developing the best music, talk, entertainment, sports, and comedy programming in all of audio. Last week we announced we will bring subscribers an exclusive new comedy channel created with Netflix and fueled by their world-class comedy programming from top global talent. In just the last few months, we have brought our listeners live exclusive performances from stars such as pop’s Shawn Mendes, country’s Jason Aldean, and the incomparable U2 playing for our subscribers at Harlem’s legendary Apollo Theater,” added Meyer.
