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Earnings Roundup

XM Satellite Radio narrows loss

July 27, 2007|From Times Wire Services

XM Satellite Radio Holdings Inc. narrowed its quarterly loss from a year earlier, the company reported, as it continued to add subscribers while seeking regulatory approval for an acquisition by rival Sirius Satellite Radio.

Washington-based XM reported a second-quarter loss of $176 million, or 57 cents a share, compared with a loss of $232 million, or 87 cents, a year earlier. Revenue rose 22% to $277 million.

Adjusted for a one-time impairment charge related to its investment in Canadian Satellite Radio, XM's second-quarter loss was 45 cents a share, the company said. That was a penny worse than the predictions of Wall Street analysts surveyed by Thomson Financial.

XM's shares fell 95 cents, or 7.9%, to $11.13.

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