1 month ago
18
Rick Munarriz, The Motley Fool
Thu, July 30, 2026 astatine 12:06 PM CDT 5 min read
Shares of Sirius XM (NASDAQ: SIRI) opened sharply little connected Thursday aft posting mixed quarterly results.
The country's lone outer vigor supplier was successful a bully groove earlier this week's fiscal stumble. Sirius XM was rallying, soaring 63% this twelvemonth done Wednesday's close. After six consecutive years of declining banal prices -- a brutal 72% belly flop implicit that clip -- it seemed arsenic if investors were yet starting to lukewarm up to the carnal comforts of a currency cattle media business.
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It was casual to marque consciousness of the swoon arsenic we headed into 2020. For a subscription work chiefly consumed successful cars, the COVID-19 lockdown was brutal. Folks weren't driving to work, school, oregon societal activities. Nixing a monthly Sirius XM subscription was an casual mode to wage for a sourdough starter, a Zoom country makeover, oregon location fittingness gear.
This year's rebound besides adds up. Revenue was turning marginally affirmative aft 3 years of humble yearly declines. The concern was showing signs of bottoming out, and the chunky dividend was comfortableness nutrient for income investors.
Let's instrumentality a speedy look astatine Thursday morning's study earlier turning the vigor knob to what it means for investors going forward.
June bugs
Sirius XM's 2nd 4th was disappointing -- judging by the stock's 8% driblet astatine the marketplace unfastened connected Thursday -- but the mixed show mightiness look evident close away. Revenue roseate a specified 1% to $2.16 cardinal for the 3 months ending successful June compared to past year's showing. Net income climbed 17% to $239 million, up 23% connected a per-share ground to $0.70 (outpacing the existent net connected a per-share ground due to the fact that of Sirius XM's perpetual stock buybacks). Free currency travel for the 4th jumped 48% to $593 million.
At archetypal glance, this study whitethorn look similar a mullet -- abbreviated connected the apical but agelong the mode down. In reality, it's the different mode around, fixed marketplace expectations. Analysts were targeting conscionable $2.14 cardinal successful revenue, truthful the show was a top-line beat. Those aforesaid analysts were expecting a nett of $0.78 per share, resulting successful a bottom-line miss.
The study wasn't arsenic atrocious arsenic the archetypal marketplace absorption mightiness suggest. Like galore rallying stocks -- a uncommon spot for Sirius XM to beryllium successful the archetypal place, aft years of its cascading banal illustration -- it's conscionable a substance of heightened expectations for a banal with an eightfold pb implicit the wide market's 8% summation successful 2026.
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