NEW YORK (TheStreet) -- Sirius XM (SIRI) shares are rising 3.5% to $3.50 in pre-market trading today after the satellite radio company reported a 5% rise in subscriptions that led to a 10% jump in second quarter revenue to $1.04 billion.
The company reported net income of $120 million, or 2 cents per diluted share.
Analysts were expecting earnings of 2 cents per share on revenue of $1.02 billion.
TheStreet Ratings team rates SIRIUS XM HOLDINGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SIRIUS XM HOLDINGS INC (SIRI) a BUY. This is driven by several positive factors, 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."