Today Sirius released their first quarter results and the numbers show they are slowly creeping towards profits.
Some of the more notable statistics are, revenue increased 61% to a record $204 million while subscriptions increased 556,490 to approximately 6.6 million. In addition Sirius has increased its Satellite Radio segment share to 66%, again proving who the real leader in the industry is.
As far as the street is concerned, Sirius came in well ahead of its forecasted 450,000 increase in net subscribers and ended the quarter with 6.6 million subscribers. In my opinion nothing could be more important given that Sirius is such a growth oriented company although, for some reason the market does not seem to agree as the stock has been trading down .10 on today’s news.