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Sirius XM Canada Q1 profit surges

Staff writer |
Sirius XM Canada Holdings posted first-quarter net income of C$8.02 million or C$0.06 per share, higher than C$4.80 million or C$0.04 per share in the prior-year quarter.

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On average, four analysts polled by Thomson Reuters expected the company to report earnings of C$0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 3.3 percent to C$78.99 million from C$76.44 million in the same quarter last year.

The year-over-year improvement reflects growth in the company's self-paying subscriber base and an increase in Self-Pay ARPU. These were partially offset by a reduction in promotional revenue due to revised terms related to contract renewals with certain OEM partners.

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