Top iPad Music Apps (a/o May 23rd):
(
First, Sirius managed to move above a dollar on Nasdaq, a major accomplishment for a stock recently languishing at 4-cents. Now, the company is reporting its first post-merger profit, a huge milestone for a company recently flirting with bankruptcy.
Sirius XM Radio (SIRI) disclosed the accomplishment on Thursday, specifically $14.2 million in net earnings for the recent, fourth quarter. That compares quite favorably to a year-ago loss of $245.8 million.
Earnings-per-share were actually break-even, though Wall Street was expecting a loss of 2-cents-per-share. On the revenue side, Sirius also overachieved, posting sales of $684 million and beating expectations of $664 million.
In terms of takers, subscribers improved by 257,000 during the fourth quarter, and Sirius projected an increase of another 500,000 subs this year. At the tail end of 2009, the tally stood at 18.8 million.
Comments Closed
OUR SPONSORS
© 2011 All Rights Reserved
Follow Us