Sirius Raises Subscriber Guidance
Sirius XM CEO Mel Karmazin will report quarterly earnings to investors on October 30. He's already tipping his hand that the company is having a good year. Sirius XM reported net subscriber additions were 445,921 in the quarter ending September 30. That translates to a record 23.4 million total subscribers for the company. So, Sirius XM now says it is raising its net subscriber additions guidance to 1.8 million for 2012 from its previous guidance of 1.6 million.
Karmazin says, "These strong net additions produced our best third quarter since the merger and exceeded third quarter 2011 subscriber growth by 34 percent. With almost 1.5 million net subscribers already added in 2012 and continuing growth in auto sales, we will significantly exceed our previous guidance of 1.6 million, marking our third increase in subscriber guidance this year and putting us on track for record post-merger net additions."
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