32 Millions Reasons Why Sirius XM Stock Hit at an 11-Year High

Sirius XM Holdings (NASDAQ: SIRI) began the trading week within spitting distance of an 11-year high, and it barreled through that ceiling on Thursday after posting blowout financial results. The last time that it traded this high, it was early 2016 and Howard Stern had taken to the satrad airwaves just a few weeks earlier.

Sirius XM's $1.348 billion in revenue for the second quarter was 9.1% above what it brought in a year earlier. It may not seem like much, but the results snapped a four-quarter streak of year-over-year decelerating growth. The media giant came through with modest growth across each of its four revenue-generating segments.

One streak it didn't snap was on earnings per share: For the fifth consecutive quarter, Sirius XM reported EPS of $0.04 -- and that's where analysts' consensus was perched. The company has been aggressively buying back stock, but the division is fierce when you have 4.7 billion fully diluted shares outstanding. The good news is that net income itself has risen by nearly 15% to $202.1 million since the prior year.

Source: Fool.com