SiriusXM (NASDAQ: SIRI) is starting out 2019 on a positive note. On Tuesday, the company reported that its total paid subscriber base has hit a record high of 34 million. By the end of 2018, SiriusXM had added 1.4 million self-pay subscribers bringing the total self-pay subscribers to 28.9 million, exceeding the company’s 2018 guidance by about 40 percent. At year end, total net subscriber additions were 1.3 million, helping the company hit its record high.

The company has scheduled its fourth quarter and full year 2019 earnings call for January 30, but it offered a few teasers of what investors can expect. The company said it expects to meet or exceed its 2018 guidance in three categories: revenue, adjusted EBITDA and free cash flow. In 2018, including dividends, SiriusXM returned approximately $1.5 billion in capital to shareholders. During the earnings call, the company will release its fourth quarter and full-year 2018 financial and operating results.

The company said it expects to meet or exceed its 2018 guidance in three categories: revenue, adjusted EBITDA and free cash flow. In 2018, including dividends, SiriusXM returned approximately $1.5 billion in capital to shareholders. During the earnings call, the company will release its fourth quarter and full-year 2018 financial and operating results.

Jim Meyer, SiriusXM’s Chief Executive Officer said: “I’m proud to report that 2018 was another year of operational excellence at SiriusXM, with record high subscribers, revenue, and adjusted EBITDA.

“Last year also saw SiriusXM achieve important milestones, like the introduction of 360L and significant improvements in our smartphone apps and IP distribution on connected devices.

“We attained a record 40% adjusted EBITDA margin in the third quarter, saw our efforts in connected vehicle services bear fruit and, of course, we were extremely pleased to reach an agreement to acquire Pandora Media.”

Added Meyer: “We expect to close the Pandora transaction shortly following the Pandora stockholder meeting scheduled for late this month, and we are quickly moving to implement exciting ways the two businesses can work together.

“We remain confident that this transformational acquisition will open exciting pathways for long-term value creation and cash flow growth for our stockholders.”

On January 8, the day of the announcement, SiriusXM stock closed at $6.35 per share. By 6:49 p.m. ESTP on January 9, it had dropped to $6.06 per share. This isn’t particularly concerning though. A year ago – January 10, 2018 – SiriusXM stock was valued at $5.56 per share, so it is up over the long term. Source: Subscription Insider