Sat radio out $134 mil as revs rise
XM Satellite Radio Thursday said its net loss widened last quarter to $134 million even as revenue more than doubled to $153 million. Subscriber figures also rose in the third quarter, topping 5 million for the first time.
Company’s red ink, up from a loss of $120 million a year ago, is the result of heavy spending on technology and programming.
XM shares closed down $3.14 Thursday to $28.07, near a 52-week low.