The home of Howard Stern, led by CEO Jim Meyer, reports a quarterly record for Pandora advertising revenue.
, on Thursday reported continued growth in its satellite radio and Pandora subscribers.
Pandora added 33,000 net new self-pay subscribers in the third quarter to end it with nearly 6.3 million self-pay subscribers. "In the third quarter, a one-year paid promotional subscription trial with T-Mobile ended, resulting in approximately 700,000 paid promotional trials being retired," the company reported. "This brought total Pandora subscribers to over 6.3 million at the end of the period, which included a paid promotional subscriber base of 45,000.
SiriusXM's earnings fell to $246 million in the third quarter, compared with $343 million in the prior-year period, primarily driven by refinancing expenses associated with the firm's July redemption of debt and non-recurring tax benefits in the year-ago period. Third-quarter revenue rose 7 percent when adjusting for the Pandora acquisition, to $2.0 billion.
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