SiriusXM Holdings Inc.’s (NASDAQ: SIRI) shares were up 2% in morning trade on Tuesday after the company topped market expectations for the second quarter of 2019. Total revenues grew 38% to $1.98 billion from the same period last year, boosted by the acquisition of Pandora Media in February, beating the analysts’ projection of $1.94 billion.
The company reported a net income of 6 cents per share in the quarter compared to the street consensus of 5 cents per share.
During the quarter, SiriusXM added 290,000 net new self-pay subscribers. to end with more than 29.3 million self-pay subscribers.
At Pandora, advertising revenue reached a second-quarter record of $306 million, growing 13% year-over-year.
Pandora added 64,000 net new self-pay subscribers to end with over 6.2 million self-pay subscribers. Total Pandora subscribers grew 16% to 7 million.
For the full year, the radio broadcasting company expects self-pay net subscriber additions approaching 1 million and Pro forma revenue of about $7.8 billion. Adjusted EBITDA during this period is forecast to be approximately $2.35 billion.
SIRI stock has gained 3% so far this year, while it has declined 13% in the trailing 52 weeks.
UPS (NYSE: UPS) reported second-quarter 2021 financial results before the regular market hours on Tuesday. The package delivery company reported Q2 revenue of $23.4 billion, up 14.5% year-over-year and higher
General Electric (NYSE: GE) reported second-quarter 2021 financial results before the regular market hours on Tuesday. The payment services firm reported Q2 revenue of $18.2 billion, up by 9% year-over-year
Lockheed Martin Corp. (NYSE: LMT) today reported its second-quarter financial results for the period ended June 27, 2021. Net revenues increased 5% to $17.02 billion. Net income for the first