You will be redirected back to your article in seconds

XM on the rise

Announcement beat analysts' predictions, pleased investors

XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up.

Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping its ability to draw revenue from customers.

XM now has 7.2 million subs, giving it a sizable — though not enormous — lead over rival Sirius, which was close to 5 million subs in its most recent disclosures.

XM also said it was on the path to profit for the fourth quarter.

But perhaps the best news, said analysts, was no news; investors had been worried the company might make negative announcements about subscriber numbers or regulatory concerns, as it had in recent months, and the fact that it didn’t was cause for celebration.

Its stock, however, is still well below its 52-week high of $32.

More Scene

  • Hong Chau American Woman

    'Downsizing' Star Hong Chau on Men and #MeToo: 'I Don't Want to Tell Somebody What to Say'

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

  • Common Would Support Oprah for President

    Common Says An Oprah Presidency Would Bring America Back to 'Compassionate Leaders' That 'Care About Human Beings' (EXCLUSIVE)

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

  • SAG Awards Prep

    Sneak Peek at 2018 SAG Awards Post-Show Gala

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

  • Sundance Parties

    Sundance 2018: The Insider's Party Guide

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

  • '12 Strong' film premiere

    '12 Strong': Chris Hemsworth Hopes Film Can Reduce 'Misconceptions' About Afghanistan

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

  • Guillermo del Toro, Greta Gerwig and

    Timothée Chalamet Says He'd Love to Work With Christopher Nolan or Guillermo del Toro

    XM Satellite Radio stock spiked 16% Monday to close at $13.17 after it announced it had reduced losses for the third quarter from $134 million to $84 million, a significant reduction compared with losses the company had previously racked up. Announcement beat analysts’ predictions and pleased investors, who have worried the company’s costs were outstripping […]

More From Our Brands

Access exclusive content