Stock Story -
Satellite radio and media company Sirius XM (NASDAQ:SIRI) will be announcing earnings results tomorrow before market open. Here's what to look for.
Sirius XM beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $2.16 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts' core subscribers estimates.
Is Sirius XM a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Sirius XM's revenue to decline 2.5% year on year to $2.19 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sirius XM has missed Wall Street's revenue estimates four times over the last two years.
Looking at Sirius XM's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Charter posted flat year-on-year revenue, meeting analysts' expectations, and Comcast (NASDAQ:CMCSA) reported a revenue decline of 2.7%, falling short of estimates by 1.1%. Charter traded up 19.8% following the results while Comcast was down 3.6%.
Read the full analysis of Charter's and Comcast's results on StockStory.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.8% on average over the last month. Sirius XM is up 12.6% during the same time and is heading into earnings with an average analyst price target of $3.9 (compared to the current share price of $3.49).
![Earnings To Watch: Sirius XM (SIRI) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/pic4aae13d08c7ae6774df3eee704c089c9.jpeg)