Sirius XM Radio Inc (NASDAQ:SIRI) trades flat
Sirius XM Radio Inc (NASDAQ:SIRI) is one of the world’s largest radio broadcaster if measured in terms of revenue; and has more than 25 million subscribers. SiriusXM is engaged in creating and broadcasting commercial-free music, premier sports talk and live events, comedy, news, exclusive talk and entertainment.
Sirius has recently announced on July 9, 2013 that it has been subscribed by 715,000 new subscribers in its second quarter’s operation which sums up to a total of more than 25 million subscribers for the radio channel. The company’s strong automotive sales have helped the company to post a growth rate of 15% in net additions over the second quarter of 2012 and have set a record for quarterly net subscriber additions. The Company also announced that it is looking forward and expects that its full-year guidance for total net subscribers shall achieve 1.5 million from its previous guidance of 1.4 million.
The company has seen that most of its new subscribers and customers are auto buyers, and the company attributes its recent growth in the market to these auto buyers. The company’s has strengths in multiple areas which are its revenue growth, return on equity, good cash flow solid stock price performance and a large concrete financial position with reasonable debt levels.
Jim Meyer the CEO of SiriusXM remarked that the achievement of new subscribers in the recent quarter have helped the company to achieve new milestone which clearly demonstrates that the popularity and growth of the company to reach to maximum number of people delivering them with the best programs and services on radio.
The company has a beta of 2.19 which is highly volatile. The stock of the company is trading in its bullish zone and has closed at $3.59 down by 0.14% in its previous day’s trading session.