Sirius XM Posts Outstanding Q2 Results
Sirius XM Radio released subscriber metrics prior to the market open today. The news was outstanding and should help reverse the bearish trend the equity has seen over the pat week.
Among the numbers released by the company was the addition of 583,249 net subscribers, self pay churn of 1.8%, and an auto take rate of 46.7%.
With these results Sirius XM’s Mel Karmazin increased subscriber guidance for the third time this year. The company now guides to net subscriber additions for 2010 of 1.1 million. With over 19.5 million subscribers Sirius XM is poised to break through 20 million this year.
Sirius XM CEO Mel Karmazin stated, “Our subscriber results mark the best of gross additions, deactivations, and net additions since the merger of Sirius and XM.”
I have long stated that OEM sales of 1 million cars per month delivers positive metrics across the board for Sirius XM. Numbers such as this demonstrate that Sirius XM should perform quite well at auto sales of 11 million or more for 2010.
Position – Long Sirius XM
SIRIUS XM Adds Over 583,000 Net Subscribers in the Second Quarter………………..
“Nuff Said”…..??
NOT !!
Howz about everyone keep ‘dumping’ their shares so that scavengers like me can keep adding to their holdings !!! LOL……..
On a more serious note though, I’d still like to hear Mel ‘explain’ to Cramer that enrollment snafu that had him (Cramer) on Video critisizing the hell out of the company and recommending people stay out of SIRI, both as a customer as well as an investor.
It’s negative press like this that should be challenged on a one on one basis by Karmazin, and if ANY validity to the complaints exists, address and/or correct it !!!!
Kudos to us, and pardon any seeming ‘negativity’ to my statement, I mean it as a positive critique……………….; ))
Sirius XM Radio Annihilates Street Expectations
Check it out 12.3 mil in new vehicle sales this year. Any bets!!!
My contribution to the cause…
Numbers such as “these”…..no?
Have a good day and keep up the good work!
This is super good news SIRI is up 7% so far today and I expect it to go up by 3 to 7 percent everyday for the rest of this week.
I’m wit u.
This is an outstanding result bringing the six months of 2010 to over 750K new subs.
We are talking true brand recognition that will shut up the skeptics. Mel’s 1.1M new subs for the entire 2010 is extremely conservative. I see no reason why the second half of 2010 is going to be worse than the first one. Usually the remaining six months of the year are the best for auto industry and for sales in general. On top of that I am confident there must be after marketand retail growth as well via new radios and smart phones.
This a monumental result speaking about THE GROWTH that the nay sayers were denying siri. If Q3 produces similar results, the company stock may double this year.
V.l…Good point if we can have a good 3rd qtr, 4th qtr with a little advertising should take care of itself.
Lets see what happens.
imho
vaporgold