XM Cuts Loss In Second Quarter

[Satellite News 07-22-08] XM Satellite Radio Holdings Inc. reported a net loss of $119.6 million in the 2008 second quarter, down from a loss of $175.8 million in the same period a year ago, the company announced July 22.
    XM’s total revenue was $318 million for the three-month period that closed June 30, up from revenues of $277 million in the 2007 second quarter. Second quarter 2008 churn was 1.7 percent, compared to second quarter 2007 churn of 1.8 percent.
    XM closed the 2008 second quarter with 9.7 million subscribers, a 17 percent increase, over total subscribers of 8.3 million a year ago. Subscriber acquisition costs improved from $75 a year ago to $65 in the 2008 second quarter, while cost per gross addition fell from $121 to $100 in the same period.