Sirius XM added 622,042 net subscribers in the quarter, up 38% from 452,147 net subscribers added in the Q2 2011. The satcaster added over 1 million net subscribers in the first half of 2012. As of 6/30, the company had over 22.9 million subscribers.
The company also increased its full year 2012 subscriber and revenue guidance. SiriusXM now expects its net new subscriber growth to approach 1.6 million and revenue to approach $3.4 billion in 2012. Adjusted EBITDA guidance of $875 million and free cash flow guidance of $700 million remain unchanged.
“SiriusXM continues to demonstrate robust growth and strong operating execution despite a challenging economy. Our second quarter subscriber gains mark a record quarter of net additions since the merger of SIRIUS and XM in July 2008,” said Mel Karmazin, SiriusXM CEO. “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 plans to release second quarter 2012 financial results on Tuesday, August 7, 2012 and will hold a conference call at 8:00 am ET to discuss.
