You will be redirected back to your article in seconds

XM net loss up 56%

Co.'s revs rise, but costs also increase

XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year.

Investors took it all in stride, how-ever, as the stock closed up 5% for the day.

No. 1 sat radio provider’s revenue rose 82% to $228 million, but costs were up across the board, particularly for programming. Seeking to keep up with competitor Sirius, which has a number of big names including How-ard Stern, XM has spent a lot on deals with Major League Baseball, Ellen DeGeneres and Oprah Winfrey, who will launch her channel in September.

Blaming “marketplace dynamics” and “regulator uncertainties,” XM said it now expects to end 2006 with be-tween 7.7 million and 8.2 million subscribers, up from the 6.9 million it had as of June 30. In May, satcaster downgraded its subscriber projection from 9 million to 8.5 million.

More Digital

  • Bob Iger Rupert Murdoch

    Wall Street Cheers Disney-Fox Deal as Media Stocks Get Lift From M&A News

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

  • Eddy Cue, Apple's senior vice president

    Apple's Eddy Cue Confirmed for Q&A Session at Pollstar Live! Conference

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

  • Netflix placeholder

    Netflix Slams FCC's 'Misguided' Repeal of Net Neutrality Regulations

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

  • Facebook

    Facebook Officially Announces Pre-Roll Ad Tests, Tweaks Mid-Rolls

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

  • Final Cut Pro X users Can

    Apple Updates Final Cut Pro X With Support for VR, HDR

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

  • Pandora

    Pandora Introduces New Free Premium Trial Session

    XM Satellite Radio continued to struggle in the second quarter as its net loss shot up 56% to $228 million and the company revised its projected subscriber growth down for the second time this year. Investors took it all in stride, how-ever, as the stock closed up 5% for the day. No. 1 sat radio […]

More From Our Brands

Access exclusive content