XM’s Subscriber Total Passes 929,000
Washington D.C.-based XM Satellite Radio [Nasdaq: XMSR], the largest U.S. satellite radio service provider, reported this week that it reached 929,648 subscribers after adding 237,395 during the third quarter. That performance marked the highest quarterly gain by the company since it began operating in September 2001.
XM is positioned to achieve its goal of reaching 1.2 million subscribers by year-end, said Hugh Panero, company president and CEO. The company also is on track to attain its primary goal of reaching cash flow breakeven by the end of 2004, he added.
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