Shares of Sirius XM Holdings Inc. (SIRI Quick QuoteSIRI - Free Report) hit a new 52-week high price of $4.41 per share Tuesday after the company released its second quarter financial results before market open. Though the company missed the Zacks EPS Consensus Estimate of $0.04 by posting EPS of $0.03, the earnings report did carry other figures that were much more positive.

Revenue climbed 10% to $1.24 billion for the three months ended June 30^th, which beat the Zacks Consensus Estimate of $1.23 billion. The figure was a record for any single quarter according to Sirius XM. CEO Jim Meyer also said in a written statement that the company added 587,000 new subscribers during the quarter. With that addition, the company ended the quarter with 30.6 million subscribers, an 8% increase from the same period a year ago.

Sirius XM said that it now expects to add 1.7 million total new subscribers in 2016. The company also increased its full-year revenue guidance, saying that it expects 2016 revenue to approach $5 billion. The current Zacks Consensus Estimate for full-year revenue stands at $4.97 billion.

Sirius XM is currently a Zacks Rank #3 (Hold), and shares of the company are up more than 7.5% year-to-date. The company was trading around $4.38, or 5.54% higher around 1:45 PM ET.

SIRIUS XM HLDGS Price

SIRIUS XM HLDGS Price | SIRIUS XM HLDGS Quote

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>