Sirius XM ups net sub gain guidance for 2012

Sirius XM raises net subscriber growth estimate for 2012 after strong 3rd quarter

Associated Press

NEW YORK (AP) -- Sirius XM Radio Inc. on Wednesday raised its guidance for a subscriber gain of 1.8 million in 2012, up from its previous forecast of a gain of 1.6 million.

It also said it added nearly 446,000 subscribers in the quarter through September, finishing the period with a record 23.4 million.

CEO Mel Karmazin said the additions represented the best third quarter since Sirius and XM merged in July 2008.

The company has added 1.5 million subscribers overall so far in 2012. In the first six months of the year, 87 percent of Sirius XM's revenues came from subscriptions.

Sirius XM shares rose 6 cents to $2.69 in afternoon trading Wednesday.

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