Subscribers, Revenues Gains Help XM Cut Loss

By | July 27, 2007 | North America, ST Briefs

With revenues of $277 million in the 2007 second quarter, up 22 percent over the same period in 2006, XM Satellite Radio saw its second quarter loss narrow by 23 percent to $176 million, the company announced July 26. In the 2006 second quarter, XM posted a $229 million net loss.

XM ended the 2007 second quarter, which closed June 30, with nearly 8.3 million subscribers compared to 6.9 million a year ago.

“XM added more automotive gross subscriber additions than during any quarter in the company’s history," XM CEO Hugh Panero, who will leave the company in August, said in a statement.

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