SiriusXM Bulls Hit Pause As Earnings Miss Ends July's Red-Hot Rally

SiriusXM Holdings Inc. (NASDAQ: SIRI ) reported second-quarter results on Thursday with revenue topping Wall Street estimates, although adjusted earnings missed expectations. Following the results, the stock fell nearly 12%, reversing part of a sharp July run that had pushed the stock into overbought territory. The audio entertainment company also raised its full-year 2026 financial guidance by $25 million across total revenue, adjusted EBITDA and free cash flow. Revenue increased 1% year over year to $2.16 billion, beating the analyst consensus estimate of $2.136 billion. Adjusted earnings came in at 70 cents per share, missing the Street estimate of 79 cents. Net income rose 17% to $239 million, while diluted EPS increased from 57 cents to 70 cents. Subscription And Advertising Drive Results Subscriber revenue increased 1% to $1.64 billion, while advertising revenue rose 5% to $454...