Sirius, Facebook, Zynga: Tech Premarket
NEW YORK (TheStreet) -- Sirius XM(SIRI) shares rose almost 3% in premarket trading on Tuesday following the company's second-quarter results, released before market open.
The satellite radio giant brought in revenue of $838 million, a 13% hike on the prior year's quarter, and above analysts' estimate of $834.88 million.
Sirius earned 48 cents a share on net income of $3.1 billion, compared to 3 cents a share and $173 million in the same period last year. Analysts surveyed by Thomson Reuters were expecting earnings of 2 cents a share. The company's second-quarter net income, however, includes a $3 billion income tax benefit.
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The New York-based firm also raised its 2012 revenue, net subscriber growth and adjusted EBITDA guidance.
Investors responded positively to the numbers, pushing Sirius shares up 2.95% to $2.26 before market open. Sirius was also the most active premarket Nasdaq stock on share volume of 8,272,194.
Facebook(FB) was another active premarket Nasdaq stock, rising 1.05% to $22.15 on share volume of 123,475.
Facebook partner Zynga(ZNGA) , which has joined forces with Universal Studios Home Entertainment to celebrate the release of Dr. Seuss' The Lorax on BlueRay and DVD, rose 2.72% to $3.02 before market open.
Groupon(GRPN) , which closed up 10.02% on Monday, crept up 0.41% to $7.28 in premarket trading.
--Written by James Rogers in New York.
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