SiriusXM profits rise, try not to beat street

SiriusXM Radio saw profit jump last quarter on revenue up 6 % to $763 million. The satellite radio giant stated net gain increased to $104 million from $68 million. It added 334,000 internet new customers within the period to complete with 21.3 million customers. Traders might have expected faster overall sub growth and tad greater revenue, delivering Sirius stock reduced pre-market trade. It had been off by a lot more than 7 percent prior to the bell. Sirius's customer acquisition costs were also lower. Its cash position solid with $600 million available in the finish from the quarter. Sirius credited the uptick in gross customers to a rise in U.S. light vehicle sales, new vehicle transmission and coming back activations. SiriusXM installation handles car manufacturers really are a answer to its business. It needs another revenue bump -Up 10 % to $4.4 billion -- for 2012 if this boosts the cost of their core SiriusXM package by $1.50 annually to $12.29. Average monthly churn was steady at 1.9 %. ''This continues to be a thrilling year for SiriusXM, but I am much more excited through the many possibilities waiting for us in 2012,'' Boss Mel Karmazin stated inside a statement. Contact the range newsroom at news@variety.com