spacetoday.net: XM reports subscriber gains, wider loss

Posted: Mon, Nov 10, 2003, 9:22 AM ET (1422 GMT)
XM Satellite Radio announced last week its quarterly loss grew compared to the same quarter a year ago as a growing number of subscribers increased operating costs. XM reported a net loss of $145.6 million during the quarter ending September 30, compared to a loss of $114.7 million in the same quarter of 2002. The company had $26.9 million in revenue in the quarter, nearly five times more than in the same quarter of 2002. At the end of September XM had 929,648 subscribers to its satellite radio service; the company has since passed the one-million milestone. XM’s satellite radio competitor, Sirius, has earlier reported a quarterly loss of $106.7 million on $4.3 million in revenue, compared to a loss of $119.7 million on virtually no revenue in the same quarter of 2002. Sirius had just under 150,000 subscribers at the end of September.