Sirius XM Holdings Inc. (NASDAQ:SIRI) announced financial and operational results for 4Q2015 as well as the full year 2015. As per the reports, it managed to earn $1.2 billion revenues in 4Q2015, up 10% from 4Q2014. The overall revenues for the year 2015 were $4.6 billion, up 9% from the last year’s revenues.
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Sirius reported a net income of $135 million for 4Q2015 and $510 million for the entire 2015 year. In 2014, it reported $143 million and $493 million net incomes respectively for 4Q2015 and year 2015. Adjusted EBITDA for the quarter and full year was $396 million and $1.66 billion, up 4% and 13% compared to the EBITDA reported during the same periods in 2014.
The senior management team of Sirius XM Holdings is delighted to announce these results and hopes to continue the same performance in the coming months as well. According to Jim Meyer, CEO, Sirius XM, the year 2015 was probably the best 12-month period Sirius XM had witnessed in the last eight years.
On the back of the excellent subscriber growth, it took the total subscriber count to over 29.6 million. Moreover the financial figures, including free cash flow, EBITDA and revenues also touched all new heights in the year, an achievement that all the shareholders will remember for years to come. Going forward, Sirius will make investments in the satellite business, connected vehicle business, new marketing capabilities, and premium content.
It will enhance the development work on telematics services and SXM17 entertainment platform in 2016 to get an edge over others and live up to shareholders’ expectations. Meyer believes that these investments will help the company hold on to its excellent growth and touch newer milestones in the coming months. He ended the discussion by saying that company’s ability to generate profits for its shareholders and unique business model has helped it tremendously over these months, and will continue to do so in the future as well.
