Latest News

Sirius XM stock rises after earnings beats, upbeat outlook and special dividend declared


Shares of Sirius XM Holdings Inc. SIRI, +2.75% rose 0.9% in premarket trading Tuesday, after the satellite radio company topped profit and revenue expectations, provided an upbeat outlook and declared a special dividend of 25 cents a share. The company swung to net income of $316 million, or 8 cents a share, from a loss of $662 million, or 16 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 7 cents. Revenue grew 4.2% to $2.28 billion, topping the FactSet consensus of $2.24 billion. Subscriber revenue rose 5.0% to $1.70 billion, above the FactSet consensus of $1.65 billion, and advertising revenue increased 4.4% to $495 million to beat expectations of $488.7 million. The number of new self-pay subscribers added in 2021 rose 27% to 1.15 million, and new vehicle penetration improved to 82% from 78%. For 2022, the company expects revenue of approximately $9.0 billion, compared with expectations of $8.9 billion. The special dividend of 25 cents a share will be payable Feb. 25 to shareholders of record on Feb. 11. The stock has gained 1.3% over the past three months through Monday while the S&P 500 SPX, +1.89% has slipped 2.0%.

Cannabis Watch: Canadian pot company BC Craft files for bankruptcy protection as market shrinks

Previous article

Need to Know: JPMorgan’s Kolanovic is again pounding the table for stocks — but one market is close to triggering an ominous signal

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News