Sirius XM Radio Inc. (NASDAQ: SIRI) managed to grow ahead of expectations. The company added some 1.7 million new subscribers in 2011 to end the year with almost 21.9 million subscribers. The report put total annual subscribers up about 100,000 more than what it had previously expected. 2011 turned out to be the best year for new subscribers for Sirius going back to the 2008 acquisition of XM Radio which allowed the satellite radio giants to combine into a monopoly.
The result is about 540,000 subscribers in the fourth quarter added in total and Sirius XM is backing its existing 2011 and 2012 guidance.
With shares up over 20% in the last quarter you might think that the good news was already priced into the stock. Shares closed down 1.6% at $1.83 to day, but the after hours session has shares up 2.2% at $1.87 in active trading versus a 52-week trading range of $1.27 to $2.44.
The big question remains… With Howard Stern now taking on the judge role for ‘America’s Got Talent’ after claiming that he was already being overworked during contract negotiations, is he going to remain as active in his broadcast role ahead?
JON C. OGG
Top Gaining Stocks
Top Losing Stocks