SiriusXM topped market estimates for quarterly revenue on Tuesday as the radio company's tie-ups with automakers helped draw users to its audio product services while on the road.
SiriusXM, whose growth primarily relies on sales of vehicles that use its audio products, has benefited this year from a pick-up in global vehicle shipments. The audio entertainment company reported second-quarter revenue of $2.25 billion, beating estimates of $2.24 billion, according to Refinitiv data.
After reporting better-than-expected free cash flow of $323 million in the quarter, the company also raised its expectation for the full year.
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