XM Revs Up For April-June
July 26, 2007 at 6:06 AM (PT)
XM SATELLITE RADIO HOLDINGS INC. announced earnings for the three-month period ended JUNE 30, 2007. Revenue for the 2007 second quarter increased 22% year over year to $277 million compared to $228 million in the 2006 second quarter. XM's 2007 second quarter net loss narrowed to $176 million, representing a 23% improvement compared to the 2006 second quarter net loss of $229 million.
XM ended the 2007 second quarter with more than 8.25 million subscribers compared to 6.90 million subscribers in the prior year period.
"During the second quarter, XM's revenue grew and losses narrowed. XM added more automotive gross subscriber additions than during any quarter in the company's history," said CEO HUGH PANERO. "XM's partners include the nation's largest and fastest growing automakers and XM is well positioned for this segment to provide sustained subscriber growth as production of XM-equipped vehicles ramps up for the 2008 model year and beyond."