XM Radio Reports Sirius Profits: Are You Signed Up?

News 2011/05/04 17:11:47
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Sirius XM, the company that resulted from a merger of satellite radio's two biggest entities, has reported enormous success this year, from increased subscriptions to increased stocks.

Sirius ended the quarter with about 20.6 million subscribers, up from 18.9 million a year earlier. The company said it continues to believe it will expand its net new subscriber count by 1.4 million this year. On Tuesday, Sirius reported a profit of $78.1 million, up from $41.6 million, a year earlier. On a per-share basis, earnings were flat at a penny. Revenue grew 9% to $723.8 million.

According to The Motley Fool, a stock market analyst from Standard & Poor's discovered that Sirius XM is worth $3.25 billion more than he expected it to be when he went into a conference on Tuesday.

Read More: http://online.wsj.com/article/SB100014240527487038...

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  • purplebird7 2011/05/05 13:34:15
    It's time everyone wised up and realized how pleasant it is to listen to music without commercials on the radio--all of it in your favorite genre, too. Satellite radio is the only place you can hear non-stop music on the way to work in the morning--no more DJs making jokes, no more waiting for a good song to come on. You actually arrive at work (and back home in the evening) feeling relaxed. I got a free trial of Sirius/XM and signed up and couldn't be happier. If the company continues this marketing tactic, i predict their profits will continue.
  • wicked soda boy 2011/05/04 19:20:55
    wicked soda boy
    Another fad stock, going up on momentum until it plummets.
    The "great quarter" wasn't all that great.

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