Stock Monitor: Pandora Media Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 08, 2018 / If you want access to our free earnings report on Sirius XM Holdings Inc. (NASDAQ: SIRI) ("Sirius"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SIRI. Sirius XM reported its first quarter fiscal 2018 operating and financial results on April 23, 2018. The satellite radio Company beat earnings estimates while revenue was in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Pandora Media, Inc. (NYSE: P), which also belongs to the Services sector as the Company Sirius XM Holdings. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Sirius XM most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Sirius' first quarter revenue grew 6% to a first quarter record $1.38 billion compared to revenue of $1.08 billion. This growth was driven by a 5% increase in subscribers as average revenue per user (ARPU) stayed flat on a y-o-y basis at $12.95. The first quarter 2018 saw the adoption of the new revenue recognition accounting standard (FASB ASU 2014-09) which reclassified approximately $24 million of the Company's revenue to offset expenses principally related to automaker agreements. Sirius' reported numbers met analysts' estimate of $1.38 billion.

For Q1 2018, Sirius' net income totaled $289 million, or $0.06, compared to $207 million in
Q1 2017, or $0.04 per diluted share, in Q1 2017. This increase included a $31 million unrealized gain associated with the change in fair value of the Company's Pandora investment, in addition to approximately $50 million of tax savings resulting from a 21.7% rate in Q1 2018 versus 35.5% in the prior year's comparable period. Sirius' earnings beat Wall Street's estimates of $0.05 per share.

During Q1 2018, Sirius' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) reached a first quarter record $532 million, up 6% from $502 million in Q1 2017. The Company's adjusted EBITDA margin was 38.6% in the reported quarter, down from 38.7% in the prior year's corresponding period, remaining near all-time highs despite headwinds from increased music royalty rates.

During Q1 2018, Sirius added 206,000 net new self-pay subscribers to end with approximately 27.7 million self-pay subscribers. The Company's total net additions in the reported quarter were 330,000, taking Sirius' total subscriber count to approximately 33.1 million at quarter-end.

Cash Matters

For Q1 2018, Sirius' free cash flow totaled $326 million, up 31% from $249 million in Q1 2017. The Company's operating cash flow totaled $415 million, up 34% from the prior year's same period. During Q1 2018, Sirius repurchased over 52 million shares of its common stock for approximately $295 million and paid nearly $50 million in dividends to stockholders ? for a total capital return of $345 million in Q1 2018. At the end of the reported quarter, the Company's debt to adjusted EBITDA was just 3.2 times, and Sirius had cash on hand of approximately $79 million and undrawn revolver capacity of nearly $1.4 billion.

On April 26, 2018, Sirius announced that its Board of Directors declared a regular quarterly cash dividend of $0.011 per share of common stock, payable in cash on May 31, 2018 to stockholders of record at the close of business on May 10, 2018.

Outlook

For full-year 2018, Sirius is forecasting self-pay net subscriber additions of approximately 1 million, revenue of approximately $5.7 billion, adjusted EBITDA of approximately $2.15 billion, and free cash flow of approximately $1.5 billion.

Stock Performance Snapshot

May 07, 2018 - At Monday's closing bell, Sirius XM's stock was marginally up 0.60%, ending the trading session at $6.71.

Volume traded for the day: 18.36 million shares, which was above the 3-month average volume of 18.04 million shares.

Stock performance in the last month ? up 7.19%; previous three-month period ? up 11.46%; past twelve-month period ? up 37.22%; and year-to-date ? up 25.19%

After yesterday's close, Sirius XM's market cap was at $28.56 billion.

Price to Earnings (P/E) ratio was at 34.06.

The stock has a dividend yield of 0.60%.

The stock is part of the Services sector, categorized under the Broadcasting - Radio industry. This sector was up 0.5% at the end of the session.

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