By Sven Olson
Sirius XM Radio Inc.(NASDAQ:SIRI) announced third quarter 2012 financial and operating results on November 1st, which included revenue of $867 million, up 14% from revenue of $763 million in the same quarter of 2011. Net income for the third quarter 2012 and 2011 was $75 million and $104 million, respectively, including a loss on extinguishment of debt of $107 million in the third quarter of 2012. Adjusted EBITDA for the third quarter of 2012 was $245 million, which was up 24% from $197 million in the same quarter of the previous year.
“Sirius XM Radio delivered a very strong third quarter for our shareholders, with 446,000 net subscriber additions, double-digit growth, and record levels of revenue, adjusted EBITDA, and free cash flow. The company has produced more free cash flow in the first nine months of this year than in any full year in its history, and we’ve used this cash to reduce our debt to its lowest level since the merger of Sirius and XM,” said Mel Karmazin, CEO of Sirius XM Radio. Read More
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