Sirius XM’s impressive comeback
Remember when Sirius XM looked like a walking zombie? Just a couple of years ago, it was losing customers and burning cash. But thanks to a popular product, a rejuvenated Detroit, and a slower-than-expected assault from in-car mobile phone streaming, Sirius is actually doing pretty well.
This past quarter, reported this morning, Sirius XM grew by 450,000 net subscribers, finishing June with 21 million. And it made a net profit of $173 million on $744 million of revenue.