New York – Sirius Satellite Radio (NASD: SIRI) announced on Wednesday
that it ended the second quarter with a record 19.5 million subscribers, an
increase of 6% from the same period a year ago. The company also raised its
subscriber forecast for 2010 by nearly 50%, now expecting 1.1 million new
subscribers.
New York-based Sirius said it added 583,249 net subscribers in the
second quarter, after losing 185,999 in the same period a year ago, while
subscriber churn fell from 2% to 1.8%.
"Our subscriber results mark the
best quarter of gross additions, deactivations and net additions since the
merger of SIRIUS and XM in July 2008," said Sirius CEO Mel Karmazin.
"The strong execution in both adding subscribers and retaining them
resulted in our record-high 19.5 million subscriber milestone, despite continued
economic uncertainty. The further improvement in our guidance reflects the
attractiveness of satellite radio but maintains a cautious outlook for
continued improvement in the economy."
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