SiriusXM Raises Subscriber, Revenue Guidance for 2012
SiriusXM raised its 2012 subscriber and revenue guidance. SiriusXM now expects its net new subscriber growth to approach 1.6 million, an increase from 1.3 million.
The company added 622,042 net subscribers in the second quarter of 2012, up 38% from 452,147 net subscribers added in the same quarter a year ago.
The satcaster had 22.9 million subscribers as of June 30.
The subscriber boost led the company to raise its revenue guidance to approach $3.4 billion, from $3.3 billion, in 2012.
The update comes as Sirius Chief Executive Officer Mel Karmazin fends off a fight for control of Sirius from Liberty Media Corp., which owns 46.2% of Sirius shares.
“While we continue to be conservative in the face of a weak U.S. economic outlook, customers continue to embrace our unparalleled programming lineup, allowing us to raise subscriber guidance for the second time this year,” Karmazin stated.
SiriusXM plans to release second quarter 2012 financial results on Aug. 7.