SIRIUS XM Radio Inc. (NASDAQ: SIRI) is at it again on the raised guidance front for subscribers. CEO Mel Karmazin has now announced that SIRIUS is expected to end 2010 with approximately 20.1 million subscribers.
This would represent an all-time high in subscribers as the company now expects net subscriber additions of approximately 1.3 million in 2010.
As far as how this compares to prior guidance, we noted in early August, “Mel Karmazin is again raising guidance for 2010. He expects SIRIUS to generate nearly $2.8 billion in revenue, approximately $575 million in adjusted EBITDA and expects free cash flow of nearly $150 million. SIRIUS XM had already increased its guidance for net subscriber adds to right at 1.1 million for 2010.”
SIRIUS XM will release its financial results and updated subscriber targets for Q3-2010 by early November.
This week we saw that S&P put SIRIUS on positive credit watch, while Miller Tabak cut the rating to Neutral from Buy.
Shares are up 1.67% at $1.22 on 25 million shares in less than an hour of trading this Friday.
JON C. OGG
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
