Subscribers, Revenues Gains Help XM Cut Loss
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.