SIRIUS XM Radio Inc. (NASDAQ:SIRI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.28%.
SIRIUS XM Radio Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.02 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Rose 11.52% to $897.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SIRIUS XM Radio Inc. reported adjusted EPS income of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.03. It missed the average revenue estimate of $906.01 million.
Quoting Management: “SiriusXM’s first quarter results show a continuation of our trend of strong, profitable growth. We turned in our best first quarter for subscriber additions since the merger, and with our continuing sharp focus on costs, we set an all-time high for adjusted EBITDA. With our strong free cash flow and low leverage, we repurchased 209 million shares so far and have now returned nearly $1 billion in total to our stockholders since the end of December via stock buybacks and a special dividend,” noted Jim Meyer, Chief Executive Officer, SiriusXM.
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