SIRIUS XM Holdings Inc. SIRI reported first-quarter 2016 financial numbers wherein the bottom line was on par with the Zacks Consensus Estimate while the top line surpassed the same.Quarterly GAAP net income came in at $171.3 million or 3 cents per share compared with $105.7 million or 2 cents in the prior-year quarter. Earnings were in line with the Zacks Consensus Estimate. Meanwhile, total revenue of $1,201 million exhibited annualized growth of 11.1% and was also above the Zacks Consensus Estimate of $1,178 million.Quarterly total operating expenses stood at $852.8 million, up 11.2% year over year. Operating income, in the reported quarter, was around $348.2 million, up 11% year over year. SIRIUS XM posted record first-quarter adjusted EBITDA growth of $441 million, up 11% year over year.At the end of the first quarter of 2016, SIRIUS XM had $362.2 million of cash from operations compared with $310 million in the prior-year quarter. Quarterly free cash flow in the same quarter stood at $332 million compared with $276.2 million in the year-ago quarter.At the end of the quarter under review, SIRIUS XM had nearly $102 million of cash and cash equivalents and $5,709.3 million of outstanding debt compared with $111.8 million and $5,443.6 million, respectively, at the end of 2015.Segment Wise ResultsQuarterly Subscriber revenues totaled $1,009.7 million, up 10.8% year over year. Advertising revenues stood at $31.5 million, up 17.1% year over year. Equipment revenues were $27.1 million, up 9.3% year over year. Other revenues grossed $132.7 million, up 12.6% year over year.Subscriber StatisticsIn the first quarter of 2016, SIRIUS XM added 465,000 subscribers which took the company’s total subscriber tally to 29,767,000 as of Mar 31, 2016, up 8.6% year over year. Payment category wise, Self-Pay subscriber count totaled 24,636,000 (up 7.4% year over year) while the Paid Promotional customer count stood at 5,423,000 (up 12.4% year over year).Important Operating MetricsDespite intensifying competition from Alphabet Inc. GOOG, Apple AAPL and Pandora Inc. P, SIRIUS XM’s average revenue per user stood at $12.67 in the first quarter of 2016 compared with $12.26 in the year-ago quarter. Average self-pay monthly churn rate was 1.9% against 1.8% in the year-earlier quarter. New Vehicle Customer Conversion rate was 38% versus 40% in the prior-year quarter. Subscriber acquisition cost stood at $34 versus $33 in the prior-year quarter.Financial OutlookManagement anticipates 1.6 million of net subscriber addition in 2016 while revenue and adjusted EBITDA are likely to be $4.9 billion and $1.78 billion, respectively, in 2016. Meanwhile, free cash flow is expected at around $1.4 billion.Currently, SIRIUS XM has a Zacks Rank #3 (Hold).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SIRIUS XM HLDGS (SIRI): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report To read this article on Zacks.com click here.