News / Business
Stock Alert - (NASDAQ:SIRI) Beat Estimates by 2c, Shares Up 10%
Stock Alert
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Sirius XM Radio Inc. (NASDAQ:SIRI) jumped up about 10% to $0.671 in morning session after it said Thursday its third-quarter loss narrowed to $149.1 million, or 4 cents a share, from a loss of $4.9 billion, or $1.93 a share in the year-ago period. Absent one-time charges, Sirius Satellite broke even for the quarter. Wall Street analysts expected a loss of 2 cents a share, according to a survey by FactSet Research. Revenue rose to $629.6 million from $612.8 million. SIRIUS XM ended the third quarter 2009 with 18.5 million total subscribers, a decrease of 2%. The company expects 2010 revenue growth of mid- to high-single digits, and growth in free cash flow compared to 2009.
Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. The Company is engaged in broadcasting in the United States, its music, sports, news, talk, entertainment, traffic and weather channels for a subscription fee through its satellite radio systems, the SIRIUS system and the XM system.
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