SiriusXM Boosts 2014 Subscriber Guidance

(RTTNews) - Sirius XM Holdings Inc. (SIRI) on Tuesday raised its 2014 guidance for net subscriber additions to about 1.45 million from its previous guidance of about 1.25 million.

"SiriusXM's subscriber growth is tracking ahead of our prior expectations. The company is executing extremely well, and with this summer's strong new car sales, we now expect to comfortably exceed our previous subscriber target," said Jim Meyer, CEO, SiriusXM.

The company said it continues to expect net self-pay subscriber additions of about 1.25 million in 2014.

SiriusXM also reaffirmed its recently increased 2014 financial guidance of revenue of about $4.1 billion, adjusted EBITDA of about $1.425 billion and free cash flow of about $1.1 billion.

Analysts polled by Thomson Reuters currently expect the company to post revenue of $4.14 billion for the full year 2014.