Sirius XM Extends Losses; Stock Now Under a Buck
Sirius XM (SIRI) shares are down sharply again this morning, one day after the company provided updated guidance that disappointed the Street.
The company’s new guidance, in case you missed it:
Subscribers: 19.5 million at year-end 2008, 21.5 million at year-end 2009.
Revenue: $2.4 billion in 2008, $2.7 billion in 2009.
Adjusted EBITDA: Loss of $350 million 2008, with positive $300 million in 2009.
Synergies from the merger with XM: $425 million in 2009.