XM Adds 398,000 Subs In Q2, Short Of Expectations
July 6, 2006 at 6:05 AM (PT)
XM SATELLITE RADIO says that it added over 398,000 new net subscribers in second quarter, giving the service 6.89 million subscribers at the end of the quarter. The number fell short of even the previously lowered estimates on WALL STREET.
Pres./CEO HUGH PANERO blamed the lower-than-projected numbers on "limited" product availability and "overall softness in the retail channel."