Shares of Sirius XM Radio Inc(NASDAQ:SIRI) continued to gain momentum as analysts are bullish on the company’s upcoming earnings. The company is scheduled to report its fourth quarter earnings on Tuesday, February 5, 2013.
Average analysts are estimating the company a profit o 2 cents a share, doubled from a year ago profit of a profit of a penny. Revenue is also forecasted to grow by 14.80% during the quarter to $899.46 million, compared to a year ago profit of $783.74 million.
For the full year, earnings are expected to be at 53 cents per share on revenue of $3.41 billion.
The stock is up 6 cents or 2% at $3.20 after hitting another new high of $3.22. The stock has been showing smooth rally since 2012. It has gained over 10% in the first month of 2013. For the year 2012, SIRI was almost 50%.
The company has topped analysts’ estimates for revenue in past consecutive four quarters, while topped in three out of four quarters.
Last quarter, the company saw profit of 2 cents per share versus a mean estimate of net income of 2 cents per share. This comes after two consecutive quarters of exceeding expectations.