Boston, MA 07/26/2013 (wallstreetpr) – Starting from the launch of streaming application of terrestrial radio, Sirius XM Radio Incorporation (NASDAQ:SIRI) has been growing its user base during every quarter. During the last quarter, the user base closed with over 25 million subscribers. During this month, Sirius XM Radio Inc was still able to achieve the company’s 5 year high over-riding the challenges imposed by Pandora Media Inc and Apple Inc’s iTunes Radio.
Sirius XM Radio Inc has made pre-announcement regarding the net adds of 715K during the second quarter which was higher than the predictions. This is due to the subscriber recognition during the shipments by OEM partners from the factory. During the last trading session, Sirius XM Radio reported the financial and operating results for second quarter 2013. These results included $ 940 million of the record revenue. The revenue is increased by 12% from the second quarter 2012 which was $ 838 million. The net income for the second quarter 2013 was $ 126 million in comparison with $ 3.1 billion during the last year. For the second quarter, adjusted EBITDA has reached a record value of $ 283 million which was increased by 19% from the last year’s value of $ 237 million.
At present, SiriusXM Radio has bought a total of 391 million shares of the company’s common stocks so far during this year for about $ 1.3 billion. During the second quarter, the company re-bought a total number of 195 million shares from the common stock for the total value of $ 650 million.
During the last trading session, SiriusXM Radio has closed at +0.82% on the total of 47,686,174 shares traded. Currently, the company’s stock is +81.77% up from the recent 12 month low. This increase has prompted Equity Profile Report to include the company’s stock into their NASDAQ Gainers Watch List..
