Sirius XM Radio Q2 Net Profit Slumps

(RTTNews) - Sirius XM Radio (SIRI) reported that its second-quarter 2013 net income plummeted to $126 million, or $0.02 per share, from $3.1 billion, or $0.48 per share, in the prior-year period. However, income before income taxes amounted to $202 million in the second quarter, an increase compared with $138 million, a year ago.

On the other hand, quarterly revenue totaled $940 million, up 12% from last year's $838 million.

On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.02, on $934.69 million in revenues for the quarter. Analysts' estimates typically exclude one-time items.