lowtrade

[picheljitsu]

lowtrade, are you familiar/have any opinion on the fundamentals of SIRI?

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI), a satellite radio company, are gaining in pre-market trading today.

At last check, SIRI shares were up 1.82% to $2.24 in pre-market trading today.

SIRI shares are gaining in pre-market trading today after the company reported its second-quarter financial results. The company’s subscribers grew by 622,000 to a record 22.9 million in the second quarter of 2012.

SIRI reported record revenue of $838 million for the second quarter, representing an increase of 13% over the same period in the previous year.

Net income for the second quarter of 2012 was $3.1 billion. Second-quarter net income included a $3 billion income tax benefit. Adjusted EBITDA for the second quarter rose 28% to a record $237 million. SIRI also raised its 2012 adjusted EBITDA guidance to approximately $900 million.

Mel Karmazin, CEO of Sirius XM, said that SIRI continued its exceptional performance in the second quarter, adding over 600,000 subscribers, which represents a post merger record, despite the macroeconomic trends. Karmazin also said that SIRI attained a record-level free cash flow of $230 million, the highest single quarterly free cash flow figure in its history.