SIRIUS XM Heading Mostly in Right Direction (SIRI)
Trusting analyst estimates on penny stocks and cult stocks is a tricky business. But SIRIUS XM Radio Inc.(NASDAQ: SIRI) is trading up on heavy volume after its earnings this morning. The satellite radio monopoly had a 27% revenue gain to…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
The company also listed roughly 18.5 million subscribers, which is up 103,000 sequentially but down 2% from last year. Subscriber churn rates during the quarter came in at about 2% as well.
Sirius also noted that it expects its adjusted income from operations to show a 20% gain in 2010 after mid to high single-digit revenue growth. The company expects its free cash flow and its subscriber count to keep growing as well and this year’s adjusted operating income should go above $400 million.
Shares are up almost 8% and at almost $0.66 on right at 3.3 million shares in pre-market trading with 15 minutes until the market opens. The 52-week high is now only $0.78 from when this stock was on fire in August.
The takeaway here is that the direction is heading the right way. There are some obvious negatives as you would expect. So far the winning direction is the stance that the glass is half-full rather than half-empty.
JON C. OGG
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
