Sirius XM Increases 2014 Subscriber Guidance, Citing Strong Summer Car Sales

Features Dow Jones Newswires

Sirius XM Holdings Inc. said strong car sales this summer have prompted the satellite radio company to increase its 2014 guidance for net subscriber additions.

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The satellite-radio company expects 1.45 million net subscriber additions, up from its prior estimate of 1.25 million.

Sirius XM said its outlook for "self-pay" subscriber additions remains at about 1.25 million for the year.

The company reaffirmed the increased full-year financial guidance it provided on July 29, including a revenue estimate of $4.1 billion.

During the second quarter, revenue topped analysts' expectations and the company ended the period with 26.3 million total paid subscribers. Profit fell 4% due to higher expenses.

In late trading, Sirius shares rose three cents to $3.60.

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Write to Josh Beckerman at josh.beckerman@wsj.com

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