SiriusXM reported 31.2 million paid subscribers in the first quarter, down 109,000 subscribers from the year-ago period, and about 33 million total subscribers, which also includes users on a free trial subscription. The total userbase was largely unchanged from a year ago.
The satellite radio company said churn among its user base “remained a standout,” and “improving” to 1.5 percent, which is the lowest first-quarter level in SiriusXM history, according to the company. This came even after the implementation of SiriusXM’s first consecutive annual price increase in February across full-price plans.
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The company reported revenue of $2.09 billion, up 1 percent from a year ago, and net income of $245 million. Earnings per diluted common share increased 22% to 72 cents, from 59 cents in the prior-year period. Both came in above Wall Street expectations.
Podcasting was another area of strong performance,
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