Sirius revenue misses estimates
(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.
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(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)
