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NEW YORK (TheStreet) -- Sirius XM (SIRI)  shares may have hit 7-year highs a day earlier, but prices slid in anticipation of and after the release of third-quarter earnings on Thursday morning.

Since moving as high as $4.18 a share on Wednesday morning, its highest point since 2007, the satellite radio broadcaster pulled back 3.8% to $3.97, with the majority of losses on Thursday morning after the company reported earnings that missed expectations.

The New York-based company reported earnings of a penny a share, flat with a year earlier, and net income of $62.89 million, 15.6% lower than a year earlier. Revenue increased 11% year on year to $961.5 million, though analysts surveyed by Thomson Reuters expected $970.37 million.

The total number of subscribers reached 25.6 million, pushed higher by 513,000 net subscriber additions and 373,000 self-pay net subscribers in the quarter. In August, the company announced its acquisition of Agero's connected vehicles unit, giving it further leverage to facilitate greater uptake of Sirius-enabled equipment in automobiles. The broadcaster says it is currently installed in more than 50 million vehicles.

Sirius management revised its full-year 2013 guidance, upping projected revenue to $3.77 billion from $3.7 billion. Revenue for 2014 is slated to be more than $4 billion.

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"With continued growth in new automobile sales and an increasing number of existing self-pay subscribers selling their cars and rotating back into our trial funnel, we are increasing our guidance for net subscriber additions and reducing our guidance for self-pay subscriber additions by equal amounts," explained CEO Jim Meyer in a statement.

Total net subscriber additions for full-year 2013 are estimated at 1.6 million, up from previous estimates of 1.6 million. Gains, however, are expected to be offset by self-pay net subscriber additions down 100,000 to $1.5 million.

TheStreet Ratings team rates Sirius XM Radio Inc as a Buy with a ratings score of B. The team has this to say about its recommendation:

"We rate Sirius XM Radio Inc (SIRI) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."