Satellite radio broadcaster SiriusXM (NASDAQ: SIRI) had some happy news for its investors Thursday; the company closed its fiscal 2016 with more than 31.3 million subscribers, which is a net increase of 1.7 million over its 2015 tally. Those additions slightly exceeded its forecasts.
Of those numbers, self-pay subscribers amounted to roughly 26 million, a net addition of 1.66 million, the company said.
In terms of financials, SiriusXM believes it will meet or exceed its projections for revenue, adjusted EBITDA, and free cash flow for the just-concluded fiscal year.
The company also proffered guidance for fiscal 2017. It estimates its revenue will total around $5.3 billion, with adjusted EBITDA coming in at just over $2 billion, and free cash flow amounting to roughly $1.5 billion.
Describing its 2016 as "incredible," CEO Jim Meyer waxed optimistic about the immediate future. "In 2017, we expect to continue our never-ending focus on bringing our customers the best content bundle available, and our strong record of delivering cost-effective growth and returning substantial capital to stockholders through stock buybacks and our recently introduced dividend," he said in the press release unveiling the latest figures.
The company initiated that payout last October, declaring a $0.01 per share distribution for holders of its common stock. The dividend, which currently yields less than 1%, was handed out at the end of November.
SiriusXM said it anticipates releasing a full set of results for both the fourth quarter and its fiscal 2016 at some point next month. It was not precise about the date.
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