Sirius XM Added More Users Than It Forecast for 2015

Sirius XM Holdings Inc. added more subscribers than expected in 2015 but said it sees that growth slowing in 2016.

Shares of the satellite-radio broadcaster, up 15% over the past 12 months, rose 0.6% to $3.93 in after-hours trading.

Sirius XM said it ended 2015 with 29.6 million subscribers, or 2.3 million more than in the year earlier. The company had projected 2 million more subscribers.

For 2016, Sirius XM said it expects to add about 1.4 million subscribers. That would give the company a total of about 31 million subscribers, slightly below the 31.3 million expected, on average, by analysts surveyed by FactSet.

The company also said it sees 2016 revenue of about $4.9 billion, in line with the average estimate of analysts polled by Thomson Reuters.

As for 2015, Sirius XM said Tuesday that it expects to meet or exceed its guidance for revenue, free cash flow and earnings before interest, taxes, depreciation and amortization.

The company is scheduled to release fourth quarter and full-year results next month.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

January 05, 2016 17:55 ET (22:55 GMT)

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