Sirius XM Radio, the largest US satellite-radio outfit, affirmed its full-year forecast for subscriber growth after adding 446,000 subscribers in the third quarter.
The customer gains, first announced Oct. 10, marked the best growth in that period for the company since Sirius Satellite Radio and XM Satellite Radio merged in 2008.
Sirius will “meet or exceed” its 2012 subscriber forecast of 1.8 million net additions, Chief Executive Officer Mel Karmazin said yesterday. A revival in auto sales is spurring demand for the company’s service. Sirius radios come pre-installed in about two-thirds of new cars, Karmazin said last month.
“We believe that this is still conservative,” Karmazin said yesterday of the company’s subscriber projection. “The fourth quarter should be another good one.”
The stock advanced 0.4 percent, to $2.81, at the close in New York, yesterday. The shares have risen 54 percent this year.