Sirius XM Radio
10/24 Close: $2.89/share
In spite of mounting competition from all directions (Internet radio, smartphones and more), satellite radio company Sirius XM Radio (NASDAQ:SIRI) continues to add revenue-bearing subscribers, month in, and month out.
As of the end of the prior quarter, its subscriber headcount was at 22.9 million, 10% higher than it was a year earlier. It’s simply amazing given the plethora of (sometimes free) competition. Even more amazing is that Sirius has been able to do what Pandora (NYSE:P) can’t … reliably turn a profit. Sirius XM swung to a profit in 2010, and has grown the bottom line every quarter since.
Shares have reflected that growth, too, hitting new multi-year highs in just the past few days. They’re perhaps a tad frothy to step into in the immediate future, but the company has nothing left to prove about its staying power.