By Demian Russian
Sirius XM Radio (NASDAQ:SIRI) announced this morning that the company added 622,042 net new subscribers in the second quarter of 2012, a 38% year-over-year improvement over the 452,147 net new subscribers that were added in Q2 of last year. Sirius XM Radio has now added over 1 million net new subscribers in the first half of this year, and as of June 30th, 2012, has over 22.9 million total subscribers.
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. 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.
– Mel Karmazin, Chief Executive Officer, SiriusXM Radio
Sirius XM Radio management also announced an increase to its full-year 2012 net new subscriber and revenue guidance. Sirius XM is now forecasting its full-year 2012 net new subscriber growth to “approach 1.6 million” and for revenue to “approach $3.4 billion.” Management reiterated full-year 2012 Free Cash Flow guidance of $700 million and Adjusted EBITDA guidance of $875 million. Sirius XM management began the year with full-year 2012 net new subscriber guidance of 1.3 million and then raised that number to 1.5 million, while leaving other metrics unchanged, when the company released its 2012 Q1 results on May 1st.
In addition, SiriusXM Radio announced its plans to release its second quarter 2012 financial and operational results on Tuesday, August 7th, 2012. A conference call with analysts is scheduled for that morning at 8:00AM ET and will be made available to investors and the press via the company’s website at www.siriusxm.com, as well as on Sirius XM’s satellite radio service (Sirius Radio channel 94 and XM Radio channel 142) and on SiriusXM Internet Radio, and through the SiriusXM Internet Radio App for the Apple iPhone, iPad and iPod touch, and on BlackBerry and Android-powered smartphones, on the Sports Zone channel.
Disclosure: Long SIRI
Contact the author: DemianRussian@SatelliteRadioPlayground.com