Sirius Satellite Radio Gains Subscribers, Lessens Losses

02 August 2007

NEW YORK: Cash-hemorrhaging Sirius Satellite Radio, with rival XM Satellite Radio urging merging on reluctant US regulators, sent analysts' eyebrows northbound with significantly narrowed losses in Q2.

SSR's net loss shrank to $134.1 million (€97.8m; £65.85m) compared with the year-ago period. At minus 9 cents a share, the result betters analysts consensus expectations of minus 10 cents and compares with minus 17 cents in the 2006 quarter.

Subscription revenues rose 51% to $226.4m, thanks in part to the rabid ramblings of shock-jock Howard Stern. Currently boasting 7.14m subscribers, Sirius expects to top eight million by the year end.

Data sourced from New York Times; additional content by WARC staff