Sirius XM 2Q profit falls 4.4 percent

Sirius XM second-quarter profit drops 4.4 percent

Associated Press

NEW YORK (AP) -- Sirius XM Holdings Inc. (SIRI) on Tuesday reported profit that declined by 4.4 percent in its second quarter.

The New York-based company said earnings fell to $120 million, or 2 cents per share. That matched analyst expectations. In the same quarter a year ago, it earned $125.5 million, or 2 cents per share.

The satellite radio company said revenue rose 10 percent to $1.04 billion from $940.1 million in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $1.01 billion, according to Zacks.

Sirius XM shares rose a penny to $3.39 in morning trading.

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