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Sirius XM Ups Its Estimate For Subscriber Adds By 50 Percent

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Sirius XM (NSDQ: SIRI) CEO Mel Karmazin said last month in pre-announcing the company’s quarterly results that Sirius XM’s subscription stats had shown a “remarkably positive turn” — and the company is now adjusting its guidance for the remainder of the year to reflect that. It now expects to add 750,000 net subscribers this year, up from its previous projection of 500,000. Sirius XM is also increasing its estimates for revenue and adjusted net income.

In a release, Karmazin credits “strong operating performance,” a recovering economy and improving auto sales for the new outlook. Karmazin has been noting those trends for nearly seven months so the revision suggest things are now really going full-speed.