Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Sirius XM Radio Inc (SIRI) Tops Q3 Revenue, Misses on Earnings

Sirius XM Radio Inc (NASDAQ:SIRI) is up over 2.3% this morning, trading at $2.87 on a 52-week range of $1.61 to $2.97. The stock was trading on a day range of just $2.74 to $2.84 yesterday as the markets opened in the aftermath of Hurricane Sandy.

The surge came after Sirius XM Radio Inc (NASDAQ:SIRI) reported better than expected Q3 results. The company reported third quarter revenue of $867 million, up from $763 million realized the same quarter last year. However, Sirius underperformed the same quarter last year with regard to its earnings after the company posted a third quarter earnings per share of $0.01, down from $0.02 Q3 last year. Analysts were estimating earnings of $0.02 and revenue of $829.6 million.

Sirius XM Radio Inc (NASDAQ:SIRI)

Sirius XM Radio Inc (NASDAQ:SIRI) also reported record subscriber growth. According to the press release, “Self-pay net subscriber additions improved by 2% year-over-year to 371,000, pushing the self-pay subscriber base to an all-time high of 19.0 million subscribers.  The total paid subscriber base rose to a record high 23.4 million subscribers. Strong auto sales helped lift total paid and unpaid trial inventory by approximately 115,000 from the second quarter of 2012 to 6.2 million.”

“Our increased subscriber guidance of approximately 1.8 million net additions shows we remain confident about growth in the fourth quarter,” said Mel Karmazin, Chief Executive Officer of Sirius XM Radio Inc (NASDAQ:SIRI)’s SiriusXM.  “We were pleased to raise our subscriber guidance for the third time this year.”

For the first 10 months of the year, Sirius XM Radio Inc (NASDAQ:SIRI) is up over 50.5% and Liberty Media Corp (Capital (NASDAQ:LMCA), the company which recently acquired the popular radio provider, is not far behind. It returned 42.6% in the first 10 months of the year and hit a new 52-week high today of $115.55. Together, the two companies are grossly outpacing their competitors, both large and small. Rival Pandora Media Inc (NYSE:P) is currently trading at $8.43 on a 52-week range of $7.32 – 15.89, and lost almost 19% in the first 10 months of the year. Cumulus Media Inc. (NASDAQ:CMLS), a much smaller rival, is trading at $2.50 on a 52-week range of $2.08 – 3.95 and lost almost 30% from January through October, while Dial Global Inc (NASDAQ:DIAL) recently traded at $2.43 on a 52-week range of $1.95 – 4.77 and has lost over 31% year to date through October 31.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!