Sirius, Facebook, Zynga: Tech Premarket
NEW YORK (TheStreet) -- Sirius XM (SIRI) shares rose almost 3% in premarket trading on Tuesday following the company's second-quarter results, released before market open.
The satellite radio giant brought in revenue of $838 million, a 13% hike on the prior year's quarter, and above analysts' estimate of $834.88 million.
Sirius earned 48 cents a share on net income of $3.1 billion, compared to 3 cents a share and $173 million in the same period last year. Analysts surveyed by Thomson Reuters were expecting earnings of 2 cents a share. The company's second-quarter net income, however, includes a $3 billion income tax benefit.
The New York-based firm also raised its 2012 revenue, net subscriber growth and adjusted EBITDA guidance.
Investors responded positively to the numbers, pushing Sirius shares up 2.95% to $2.26 before market open. Sirius was also the most active premarket Nasdaq stock on share volume of 8,272,194. Facebook (FB) was another active premarket Nasdaq stock, rising 1.05% to $22.15 on share volume of 123,475. Facebook partner Zynga (ZNGA), which has joined forces with Universal Studios Home Entertainment to celebrate the release of Dr. Seuss' The Lorax on BlueRay and DVD, rose 2.72% to $3.02 before market open. Groupon (GRPN), which closed up 10.02% on Monday, crept up 0.41% to $7.28 in premarket trading. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devicesSelect the service that is right for you!
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