XM’s Fourth Quarter Shows Revenue, Subscriber Gains
[Satellite Today – 2-28-08] XM Satellite Radio posted a 20 percent increase in revenue for the fourth quarter of 2007 as well as an 18 percent increase in subscribers for the year, the company announced Feb. 28.
XM posted $308 million in revenue for the fourth quarter, compared to $257 million for the fourth quarter of 2006. XM’s full year 2007 total revenue was $1.1 billion, an increase of 22 percent over the $933 million total revenue recorded in 2006.
Net loss for the fourth quarter of 2007 narrowed by $18 million over the prior year to $239 million, compared to a net loss of $257 million for the 2006 fourth quarter. The net loss for 2007 was $682 million, an improvement over a loss of $719 million in 2006.
XM added 1.4 million net new subscribers in 2007, closing the year with more than 9 million subscribers.
"XM substantially improved its business operations in 2007 as we grew our subscriber base and revenues and narrowed our loss, positioning us as a stronger and more focused company better positioned to meet the competitive challenges of the future," Nate Davis, the company’s president and CEO, said in a statement. "XM has doubled its revenues in the last two years and our investment and robust performance in the new car market establishes a clear path for sustained future growth."