Sirius XM Ticks Higher After Q2 Earnings Beat

Sirius XM Holdings SIRI reported second-quarter earnings of 6 cents per share, which beat the analyst consensus estimate of 5 cents by 20%. This is unchanged from the same period last year.

The company reported quarterly sales of $1.98 billion, which beat the analyst consensus estimate of $1.94 billion by 2.06%. This is a 38.27% increase over sales of $1.432 billion the same period last year.

"Our company produced outstanding financial and operating results once again this quarter, and I'm pleased by the quick progress we've made in integrating Pandora,” said CEO Jim Meyer. “Revenues and adjusted EBITDA each reached records in the period. We're thrilled with the results in the first half of the year, and we are raising 2019 guidance for revenue and adjusted EBITDA and reiterating our guidance for net subscriber additions and free cash flow."

Sirius XM Holdings shares were trading up 1.14% at $6.23 in Tuesday’s pre-market session. The stock has a 52-week high of $7.26 and a 52-week low of $5.23.

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