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More Revenue, Subscribers for Sirius XM

Mel Karmazin confident ‘momentum will continue’

Sirius XM reported net revenue of $763 million for the third quarter. That’s up 6% over third quarter 2010 revenue of $718 million.

Adjusted earnings before interest, taxes, depreciation and amortization was $197 million in Q3, up 16% from $170 million in the third quarter of 2010.

Company President/CEO Mel Karmazin said he’s “confident our positive momentum will continue in the fourth quarter.”

Sirius XM added 334,000 net subscribers in the third quarter, for a total of 21.3 million paying customers. The satcaster says subscriber churn remained flat at 1.9% in Q3.