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
Top Gaining Stocks
Top Losing Stocks