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Sector Update: Technology

By: MT Newswires
Posted: 10/24/2013 8:01:00 AM
Referenced Stocks: SIRI;SLAB

Technology shares are generally lower in pre-bell trading.

In technology earnings news, Sirius XM Radio ( SIRI ) is down 4% as it reported Q3 2013 financial and operating results, including revenue of $962 million, up 11% from Q3 2012 revenue of $867 million. Earnings per fully-diluted share were $0.01 each in the third quarter of 2013 and 2012.

Analysts expected $0.02 per share in earnings and $973 million in revenue, according to Capital IQ.

For 2013, Sirius expects revenue of approximately $3.77 billion, up from previous guidance of over $3.7 billion. The Street is at $3.8 bln.

And, Silicon Labs ( SLAB ) reports Q3 non-GAAP EPS of $0.45, two cents better than the analyst consensus on Capital IQ. Revenue was $146.9 mln, vs. expectations of $146.5 mln.

For Q4, revenue is seen in the range of $140 to $145 mln, vs. the Street view of $150.5 mln.