Sirius XM Satellite Radio posted better than expected earnings Thursday and the company’s optimistic of the trend continuing, CEO Mel Karmanzin told CNBC.
Sirius broke even on adjusted earnings per share on revenue of $6.3 million.
The company was expected to post a 2 cents loss with revenue of $609 million, according to Thomson Reuters.
“I think it was a terrific quarter from my point of view,” said Karmazin. “We’re really very optimistic particularly with our churn improving."
Sirius Satellite radio gained subscribers for the first time in two quarters with the most new customers subscribing since Sirius merged with XM radio in July of 2008.
Karmazin said he expects more subscribers as the economy improves and the automobile industry recovers.