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