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  • ezalldee ezalldee Oct 10, 2012 3:00 PM Flag

    Sirius Boosts Forecast for 2012 Subscriber Gains to 1.8 Million

    Sirius Boosts Forecast for 2012 Subscriber Gains to 1.8 Million
    By Nick Turner - Oct 10, 2012 1:21 PM ET .
    Sirius XM Radio Inc. (SIRI), the satellite- radio broadcaster, raised its forecast for 2012 subscriber gains to 1.8 million from 1.6 million, helped by growth in auto sales.

    Sirius added 445,921 subscribers in the third quarter, bringing the total to a record 23.4 million, the New York-based company said in a statement. The period marked the best third quarter since the merger of Sirius Satellite Radio and XM Satellite Radio in 2008, Chief Executive Officer Mel Karmazin said.

    “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,” Karmazin said in the statement.

    Sirius shares rose 2.3 percent to $2.69 at 1:14 p.m. in New York. The stock had gained 45 percent before today.

 
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