Why Sirius XM Stock Is Trading Higher Today

Sirius XM Holdings Inc SIRI is trading higher Tuesday morning after the company announced better-than-expected financial results. 

Sirius XM reported second-quarter earnings of 7 cents per share, which was in-line with estimates. The company reported quarterly revenue of $2.16 billion, which beat the estimate of $2.06 billion. 

Sirius XM increased its full-year 2021 revenue guidance to $8.55 billion. The company also said it expects full-year 2021 self-pay net subscriber additions of approximately 1.1 million.

"SiriusXM added an impressive 355,000 net new self-pay subscribers in the quarter, putting us on track to add 1.1 million self-pay subscribers this year – our best since 2018 – and we are increasing all of our financial guidance," said Jennifer Witz, CEO of Sirius XM. 

Price Action: Sirius XM has traded as high as $8.14 and as low as $4.95 over a 52-week period. 

At last check Tuesday, the stock was up 4.8% at $6.69.