Sirius XM Radio Inc. Earnings: Beats Estimates

Sirius XM Radio Inc. (NASDAQ:SIRI) reported net income above Wall Street’s expectations for the second quarter. SIRIUS XM Radio Inc. broadcasts its music, sports, news, talk, entertainment, traffic and weather channels in the United States for a subscription fee through its proprietary satellite radio systems: the SIRIUS system and the XM system.

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Sirius XM Radio Earnings Cheat Sheet for the Second Quarter

Results: Net income for the broadcasting company rose to $173.3 million (3 cents per share) vs. $15.3 million (0 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose 6.4% to $744.4 million from the year earlier quarter.

Actual vs. Wall St. Expectations: SIRI beat the mean analyst estimate of one cent per share. Analysts were expecting revenue of $752.5 million.

Quoting Management: “Our results in the second quarter were strong, and we are proud of our record levels of subscribers, revenue, and adjusted EBITDA and growth in free cash flow. SiriusXM continues to perform well, and we are pleased to raise our subscriber guidance and, for the second time this year, our free cash flow guidance,” said Mel Karmazin, Chief Executive Officer, SiriusXM.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 9% to $723.8 million in the first quarter. The figure rose 8.8% in the fourth quarter of the last fiscal year from the year earlier and climbed 16% in the third quarter of the last fiscal year from the year-ago quarter.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of one cent per share.

Competitors to Watch: Westwood One, Inc. (NASDAQ:WWON), Entercom Communications Corp. (NYSE:ETM), Cumulus Media Inc. (NASDAQ:CMLS), Emmis Communications Corp. (NASDAQ:EMMS), Radio One, Inc. (NASDAQ:ROIAK), CBS Corporation (NYSE:CBS), Grupo Radio Centro SAB de CV (NYSE:RC), Salem Communications Corp (NASDAQ:SALM), Saga Communications, Inc. (AMEX:SGA), and Pandora (NYSE:P).

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(Source: Xignite Financials)

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