Sirius XM Adds Over A Quarter-Million Subscribers
January 20, 2010 at 5:10 AM (PT)
SIRIUS XM reports it added more than 257,000 net subscribers during Q4 -- the most since the third quarter of 2008 -- as it benefited from improvements in car sales. The company will report more than $100 million in free cash flow for the full year, after reporting negative free cash flow of $552 million in 2008.
"Improvements in automotive sales, conversion rates and better than anticipated self-pay churn suggest that the outlook for the auto sector and the effects of the economy on our business are beginning to improve," said CEO MEL KARMAZIN.
Shares climbed 5% in after-hours trading.
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