SiriusXM Increases Subscription Guidance

SiriusXM Tuesday raised its 2014 guidance for net subscriber additions to approximately 1.45 million, an increase from previous guidance of approximately 1.25 million.

"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," said Jim Meyer, CEO, SiriusXM.

The company continues to expect net self-pay subscriber additions of approximately 1.25 million in 2014.

SiriusXM also reaffirmed its recently increased 2014 financial guidance:

• Revenue of approximately $4.1 billion,
• Adjusted EBITDA of approximately $1.425 billion, and
• Free cash flow of approximately $1.1 billion.