Sirius XM Reports Mixed Earnings For Q2

August 03, 2011

Sirius XM (NASDAQ:SIRI) reported adjusted Q2 EPS of $0.03, better than analyst estimates of $0.01. Revenues for the quarter rose 6.4% year-over-year to $744.00 million, missing the consensus estimates of $752.57 million.Mel Karmazin, Chief Executive Officer, SiriusXM said, "With the excellent subscriber performance recorded in the first half of 2011, we are now confident that we will exceed our previously announced 1.4 million net subscriber addition guidance for 2011. Today we are raising our full-year guidance to a projected 1.6 million net subscriber additions. After a strong first half, we now expect free cash flow in 2011 will approach $400 million, up from our prior guidance of approaching $350 million."Sirius XM Radio (NASDAQ:SIRI) has a potential upside of 4.3% based on a current price of $2.17 and an average consensus analyst price target of $2.27.