Sirius XM Radio reported a quarterly profit in line with expectations, as net subscriber additions jumped 65 percent, but revenue came in slightly below Street estimates.

Fourth-quarter net subscriber additions rose to 542,966.

The company, which has radios on the dashboards of 65 percent of new cars in the United States, reported a net income of $71 million, or 1 cent a share, compared with a net loss of $81 million, or 2 cents a share, a year ago.

The company, which competes with free Internet radio services such as Pandora Media Inc
, reported revenue of $784 million, against estimates of $785.5 million, according to Thomson Reuters I/B/E/S.

Shares of the company fell 3 percent to $2.13 in premarket trading on Thursday. They closed at $2.19 Wednesday on the Nasdaq.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Joyjeet Das)