Sirius Adds 600K Net Subs in Recent Record

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Sirius XM Radio announced it added 622,042 net subscribers in Q2, setting a recent record.

Sirius XMIt’s net subscribers for the quarter grew 38 percent compared to the year earlier.  Combined with Q1 this year, the satellite radio company added a total of 1 million net subscribers for the first half, reaching a total subscriber count of 22.9 million.

SiriusXM also increased its forecast for the full year for new subscribers and revenue.  It now expects to reach 1.6 million in net new subscribers this year and it plans to reach revenues of $3.4 billion.

“Our second quarter subscriber gains mark a record quarter of net additions since the merger of SIRIUS and XM in July 2008,” said CEO Mel Karmazin, “While we continue to be conservative in the face of a weak US economic outlook, customers continue to embrace our unparalleled programming lineup, allowing us to raise subscriber guidance for the second time this year.”

SiriusXM will release Q2 financial results on Tuesday, August 7, 2012 and will hold a conference call at 8:00 am ET to discuss these results.

Source: SiriusXM

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