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Sub gains fuel Sirius

Satellite radio co. adds 441,000 subscribers

Sirius Satellite Radio said Wednesday that its losses narrowed and revenue jumped as subscribers flocked to its service.

Sirius’ net loss shrank to $163 million from $180 million on revenue that about doubled to $167 million.

During the quarter, Sirius added about 441,000 net subscribers for a total of 5.1 million. The cost of acquiring each customer decreased 23% to $114 from $149 on lower average subsidy rates as the company continued to reduce manufacturing and chip-set costs.

The Gotham-based company also reiterated its forecast for 6.3 million users by year’s end.

Both Sirius and larger rival XM Satellite Radio offer monthly subscriptions for $13 a month. XM reported upbeat quarterly earnings earlier this week.

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