XM Satellite Radio Sees Loss Widen
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XM Satellite Radio Holdings Inc., the biggest satellite radio service, had a wider third-quarter loss after interest payments increased. The company passed the 1-million-subscriber mark, helped by sales of radios through General Motors Corp.
The net loss expanded to $133.4 million from $109.6 million a year earlier, partly because interest expense nearly doubled, to $30.4 million. XM’s per-share loss shrank to $1.12 from $1.26 as the company had more shares outstanding. Sales jumped almost fivefold to $26.9 million from $5.6 million.
XM shares climbed 48 cents, or 2%, to $21.70 on Nasdaq.
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