A healthy market for new automobiles is proving to be a shot in the arm for satellite radio service SiriusXM.
The company has said its total subscriber growth for 2014 was going to come home at 1.25M. It has now upped the projection to 1.45M. The total of net additions is expected to be 1.25M.
SiriusXM ended 2013 with 25.6M people on its roles. It claims 26.3M as of 9/9/14.
It also offered revised guidance on a few financials:
Revenue of approximately $4.1 billion,
Adjusted EBITDA of approximately $1.425 billion, and
Free cash flow of approximately $1.1 billion.
CEO Jim Meyer commented, “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.”
