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This swelling customer base has given the company a strong foundation to meet its 2012 financial guidance. Based on these results, interim Chief Executive Officer Jim Meyer said that “SiriusXM set a post-merger record of 2 million net additions in 2012, and we expect to report financial and operating results that meet or exceed all of the guidance we provided for 2012.”
Shares of Sirius XM have traded in a continued uptrend in 2013 following a stellar 2012 technical performance:
Growth is expected to continue through this year. “Our unparalleled programming and product innovations, such as On Demand programming and the soon to be launched customization feature, will allow us to continue our strong record of growth driving our subscriber base to exceed 25 million in 2013,” he added.
In the press release announcing the company’s subscriber additions, Meyer predicted that the company will achieve double digit earnings growth before interest, taxes, depreciation and amortization, which will allow Sirius to begin its $2 billion stock buyback program. For this upcoming year, Sirius has forecast revenue of over $3.7 billion, adjusted EBITDA of over $1.1 billion, free cash flow close to $900 million, and total net subscriber additions of approximately 1.4 million.
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