Sirius XM Radio (SIRI) is boasting a 0.9% boost in new subscribers — reaching a new high in subscribers since losing customers in 2009.The satellite radio service signed up more than 171,000 new subscribers in the first quarter. The company now has 18.9 million subscribers, an increase of 344,765 over the year ago at the same time.
Last year, Sirius lost more than 404,000 subscribers in the first quarter.
Executives told analysts during a recent earnings call that they expect to sign up 500,000 new subscribers in this year. Sounds like they are on the right track.
All this is good news for Sirius as they head to a hearing at the NASDAQ on April 29. The service’s stock has dipped below $1 since September 2008, which violates the exchange ‘s rules. They are expected to ask for more time to boost up their stock before they risk getting kicked off the exchange.
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