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Sirius XM Holdings Inc. Boosts Subscriber Growth Outlook 14%

Courtesy of Benzinga.

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Sirius XM Holdings Inc. (NASDAQ: SIRI) raised its 2014 guidance for net subscriber additions by 16 percent to 1.45 million, from 1.25 million previously.

Chief Executive James Meyer said recent record new car sales will help the company “comfortably exceed our previous subscriber target,”

The New York-based satellite radio broadcaster also reaffirmed its 2014 outlook for free cash flow of $1.1 billion on revenue of $4.1 billion.

Wall Street expects earnings of $0.08 a share on revenue of $1.14 billion.

As of March 31, Sirius counted 21.25 million paid subscribers — its primary revenue source.

The company is 50 percent owned by Liberty Media Corp. (NASDAQ: LMCA).

In Tuesday’s extended session, Sirius traded recently up 0.8 percent to $3.60 a share.

Posted-In: James MeyerNews Guidance After-Hours Center

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