In a statement, Sirius said that it expects net new subscriber growth to approach 1.6 million and revenue to approach $3.4 billion in 2012. The company, however, noted that its adjusted EBITDA guidance of $875 million and free cash flow guidance of $700 million are unchanged.
The satellite radio giant also announced that it added 622,042 net subscribers during the second quarter, a 38% hike from the same period last year.
"Sirius XM continues to demonstrate robust growth and strong operating execution despite a challenging economy," noted Mel Karmazin, the Sirius XM CEO, in the statement. "Our second quarter subscriber gains mark a record quarter of net additions since the merger of SIRIUS and XM in July 2008."The New York-based firm was also one of the most active premarket Nasdaq stocks on share volume of 1,904,061. Sirius plans to report its second-quarter results on Aug. 7. Facebook (FB) shares gained 1.32% to reach $32.15 before market open while Yahoo! (YHOO) gained 0.7% to reach $15.89. On Friday, the two companies announced that they have resolved their patent dispute and also launched a strategic alliance. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
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