Tomahawk, WI 06/09/2014 (Basicsmedia) – Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share trading has bagged vehement momentum off late, pumped up by the exquisite quarterly results that the company has portrayed.

Phenomenal Q1 Gains

On April 24, 2014, SIRI announced its Q1-2014 operating and financial results. Quarterly revenues surged up by $998 million, increasing from its Q1-2013 estimate of $897, thus increasing by 11%, year-over-year.  However, earnings per share stayed flat, at $0.02 per diluted share in Q1-2014 as in 2013, a year ago.

In Q1-2014, Sirius XM Holdings Inc. (NASDAQ:SIRI) has also bagged gross income amounting to $94 million and an adjusted income amounting to $121 million, portrayed a marked 46% increase year-over-year, from $83 million obtained last year. Adjusted income is calculated after duly accounting for Liberty Media stock-repurchase, associated purchase-price adjustments from the XM and Sirius merger and applied taxes. Adjusted EBITDA escalated another 28%, amounting to a record figure of $335 Million!

SIRI had another major takeaway from Q1; it reached a broad subscriber-count of a whopping 25.8 million, increasing almost 6% from the last year’s first quarter. SIRI also avenged a voluminous increase in the free cash flow, as it shot up by 56% – rising from $142 million in Q1-2013 to $223 million in 2014. Free cash flow for every diluted share increased from 2.2 cents to 3.6 cents – rising another 64% YoY.

The Company’s Perspective

SIRI’s VP and CFO, David Frear, opined that the company expects to tap down its lingering debts on available opportunities in FY2014 as  the company seeks to leverage its business endeavor. Sirius XM Holdings Inc. (NASDAQ:SIRI) expects to receive net proceeds of $1.5 billion as SIRI announced that it would dole its Senior Notes at 6.00% interest, due 2024.

Broadcast Rights

Meanwhile,Sirius XM Holdings Inc. (NASDAQ:SIRI) has announced that it would broadcast the 114th US Open Golf Championship to be held at Pinehurst Resort in North Carolina between June 12-15, 2014.
SiriusXM has also been awarded the right to broadcast ‘Town Hall Event,’ hosted by Maria Menounos at Friars Club, commemorating the 50th anniversary of Warner Bros.’ ‘The Nutty Professor.’

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