Sirius XM Holdings (NASDAQ: SIRI) checked all the boxes in Tuesday morning's earnings report, and then it rolled out a new checklist. The satellite radio provider exceeded expectations on both ends of the income statement in the second quarter. It also jacked up its guidance for all of 2021.
The premium radio platform was starting to gain momentum after a rough performance through 2020. The pandemic wasn't kind to the auto market, and as a service that's consumed largely in a moving vehicle, Sirius XM suffered from a lack of new listeners. Cancellations from budget-conscious subscribers, whose cars were parked a lot more than usual last year, obviously also didn't help. Last's year's cruel climate ended the stock's streak of 11 consecutive years of delivering positive returns, but it's back on track in 2021.
Image source: Sirius XM Holdings.
For further details see:
Sirius XM Radio Comes Through With a Great Quarter