SIRIUS XM Radio Earnings: Here’s Why Investors are Buying Shares Now
SIRIUS XM Radio Inc. (NASDAQ:SIRI) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.45%.
SIRIUS XM Radio Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 95.83% to $0.02 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 12.23% to $940 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SIRIUS XM Radio Inc. reported adjusted EPS income of $0.02 per share. By that measure, the company met the mean analyst estimate of $0.02. It beat the average revenue estimate of $934.69 million.
Quoting Management: “SiriusXM’s second quarter results reflect record performance on almost every vital metric: the 25 million subscriber milestone, record revenue, adjusted EBITDA and adjusted EBITDA margin. We grew our revenue at double digit rates for the sixth consecutive quarter while being very mindful of our costs as we invest in advanced IP and telematics platforms designed to provide more services to our subscribers and automakers,” noted Jim Meyer, Chief Executive Officer, SiriusXM.
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