XM Posts Increased Subscribers, Net Loss

By | October 25, 2007 | Broadcasting, Satellite News Feed

[10-25-07 – Satellite Today] XM Satellite Radio broke the 8.5 million subscriber mark, but posted a 72 percent higher net loss figure in the third quarter of 2007, the company announced Oct. 25.

XM’s net loss for the third quarter ending Sept. 30 was $145 million, up from an $84 million net loss in the third quarter of 2006. Despite the rise in net loss, XM reported a 20 percent increase in revenue, from $240 million in 2006 to $287 million this year.

XM is in the process of merging with main rival Sirius, and is hoping to close the deal by the end of the year, Nate Davis, XM President and CEO said.

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