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Sirius exceeds 2018 self-pay subscriber guidance

Sirius XM Holdings Inc. added 1.4 million self-pay subscribers to end 2018 with about 28.9 million self-pay subscribers, exceeding the company's initial 2018 guidance by approximately 40%.

The company recorded about 1.3 million net subscriber additions in 2018, resulting in total paid subscribers of approximately 34 million at year-end, according to a Jan. 8 news release.

Furthermore, the company said it expects to meet or exceed its 2018 guidance for revenue, adjusted EBITDA and free cash flow. The guidance does not give effect to the expected acquisition of Pandora Media Inc. in the first quarter. Pandora's special meeting of stockholders to vote on the transaction is scheduled for Jan. 29.

For 2019, Sirius expects total revenue of about $6.1 billion, adjusted EBITDA of about $2.3 billion and free cash flow of approximately $1.6 billion.

The company plans to report fourth-quarter and full-year 2018 earnings Jan. 30.