SiriusXM Reports Second Quarter 2016 Results
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FBR Capital Raises Price Target on Sirius XM (SIRI) and Updates Model Following 2Q
July 27, 2016 7:34 AM EDTFBR Capital reiterated an Outperform rating on Sirius XM Radio (NASDAQ: SIRI), and raised the price target to $5.00 (from $4.25), following the company's 2Q earnings report. FBR updated the model to 1.73 million net subscriber additions for 2016 to end the year at over 31.32 million subs, up... More
Sirius XM (SIRI) Misses Q2 EPS by 1c; Raises Outoook
July 26, 2016 7:06 AM EDTSirius XM (NASDAQ: SIRI) reported Q2 EPS of $0.03, $0.01 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.22 billion.
Adjusted EBITDA in the second quarter of 2016 was $468 million, a record quarterly high and a 13% increase from $415 million in the prior year period.
"SiriusXM's second quarter results demonstrated continued strong demand for our content bundle and solid execution by our entire team. We grew net new subscribers by 587,000 in the second quarter, and our subscriber base, revenue, adjusted EBITDA, and free... More
