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SIRIUS XM Radio Inc. (NASDAQ:SIRI) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. Shares are down 0.63%.
SIRIUS XM Radio Inc. Earnings Cheat Sheet
Results: Net income increased 118.95% to $156.2 million (2 cents per diluted share) in the quarter versus a net gain of $71.34 million in the year-earlier quarter.
Revenue: Rose 13.86% to $892.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SIRIUS XM Radio Inc. reported adjusted net income of 2 cents per share. By that measure, the company met the mean analyst estimate of $0.02. It missed the average revenue estimate of $898.65 million.
Quoting Management: “Thanks to the outstanding team at SiriusXM, we capped a great 2012 with a strong fourth quarter, adding more than 500,000 net new subscribers and attaining outstanding revenue, adjusted EBITDA, and free cash flow. SiriusXM also returned capital to shareholders for the first time in the history of satellite radio through a $327 million special cash dividend in December. We are confident in our guidance for growth in 2013 and continue to be sharply focused on enhancing shareholder value, including through our recently announced common stock repurchase program that we are initiating this year,” said Jim Meyer, Chief Executive Officer, SiriusXM…
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