February 9, 2012 / 12:37 PM / 7 years ago

Sirius revenue misses estimates

Mel Karmazin, Chief Executive Officer of Sirius XM Radio speaks at the Reuters Global Media Summit in New York, November 29, 2011. REUTERS/Mike Segar

(Reuters) - Sirius XM Radio (SIRI.O) reported a quarterly profit in line with expectations, as net subscriber additions jumped 65 percent, but revenue came in slightly below Street estimates.

Fourth-quarter net subscriber additions rose to 542,966.

The company, which has radios on the dashboards of 65 percent of new cars in the United States, reported a net income of $71 million, or 1 cent a share, compared with a net loss of $81 million, or 2 cents a share, a year ago.

The company, which competes with free Internet radio services such as Pandora Media Inc (P.N), reported revenue of $784 million, against estimates of $785.5 million, according to Thomson Reuters I/B/E/S.

Shares of the company fell 3 percent to $2.13 in premarket trading on Thursday. They closed at $2.19 Wednesday on the Nasdaq.

Reporting by Sayantani Ghosh in Bangalore; Editing by Joyjeet Das

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below