Sirius XM Exceeds Revenue Estimates

Sirius XM (SIRI Quote) topped analysts' revenue targets for the third quarter and reiterated its five-year operational plan, but shares of the company traded lower Tuesday as subscriber growth slowed.

The satellite-radio operator recorded a third-quarter loss of $217 million, or 9 cents a share, compared with a year-ago loss of $265.5 million, or 18 cents a share. Sirius XM said the results include only two months of operations of XM following its July 28 acquisition.

Revenue rose 15.7% from a year ago to $612.8 million. On average, analysts expected a loss of 9 cents a share on revenue of $587.4 million, according to Thomson Reuters. ...