The satellite radio giant early Tuesday reported revenue of $892 million, up from $784 million in the same period last year, but below analysts' estimates of $898.65 million. Sirius earned 2 cents a share, up from a penny a share in the prior year's quarter. Analysts surveyed by Yahoo! Finance were looking for earnings of 2 cents a share.
Sirius affirmed its 2013 guidance, projecting revenue over $3.7 billion and total net subscriber additions of 1.4 million. Analysts are looking for 2013 revenue of $3.83 billion.
"We are confident in our guidance for growth in 2013 and continue to be sharply focused on enhancing shareholder value, including through our recently announced common stock repurchase program that we are initiating this year," said Sirius CEO Jim Meyer, in a statement released before market open.Sirius said that its subscribers grew to a record 23.9 million in 2012. The company was also one of the most active premarket Nasdaq stocks on share volume of 7,219,695. BlackBerry (BBRY), which recently received an upgrade from Bernstein Research, rose 3.59% to reach $15.52 on share volume of 1,459,116. Shares of ARM Holdings (ARMH) gained 4.65% to $43.90 following the company's fourth-quarter results, released early on Tuesday. The chip design specialist was also one of the most active premarket Nasdaq stocks, on share volume of 1,241,029. Zynga (ZNGA), which reports its fourth-quarter results after market close, rose 5.47% to $2.70. Dell (DELL) shares gained 0.98% to reach $13.40 following news reports that CEO Michael Dell is close to clinching a $23 billion deal to take the company private. Shares of the No. 3 PC maker ended Tuesday's trading session down 2.64%. Apple (AAPL) shares gained 0.48% to reach $444.46 in premarket trading. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV