SiriusXM Q3 Revenue Increases 9%

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And that translates to $1.3 billion, a record quarter for the satellite broadcaster. The company now expects full-year 2016 revenues to be approximately $5 billion. Net income totaled $194 million in the third quarter 2016, up 16% from $167 million a year earlier. CEO Jim Meyer said the company is executing on its short-term goals while progressing on its long-term objectives. SiriusXM has been installed in 43% of all the automobiles sold in the U.S. this year, up from 34% in 2013. The company has $6.1 billion in debt with no maturities due until 2020, $572 million in cash on hand, and plenty of liquidity.

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