Earnings: Sirius 4Q Revenues More Than Double, Losses Fall

The day after future merger-buddy XM reported higher revenues and lower losses NY-based Sirius (Nasdaq: SIRI) has released has released its Q4 earnings, showing revenue had more than doubled to $193.4 million from $80 million for the fourth quarter 2005. Net loss also fell, from $311.4 million in Q4 2005 to $245.6 million for Q4 2006…this beat analysts’ expectations, reports AP via Forbes.
For the full year 2006 revenue was $637.2 million, an increase of 163% over 2005 at $242.2 million. However, the company posted a net loss of $1.1 billion in 2006, compared to $863 million in 2005.
Sirius, which is based in New York, ended the year with just over 6 million subscribers, 82 percent higher than the 3.3 million it had a year earlier. The company expects to have more than 8 million subscribers by the end of this year and revenues approaching $1 billion. The average revenue per user was $11.01 in 2006, including $.56 from advertising revenue.
Earnings Release