XM Satellite Radio subscribers increased in 2nd quarter despite p...
XM Satellite Radio subscribers increased in 2nd quarter despite posting wider loss, company said. XM added 60,476 subscribers, up 79% from previous quarter, for total of 136,718. By contrast, rival Sirius has fewer than 5,000 subscribers. XM reported net…
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loss deepened to $117.2 million for year from $38.5 million in 2001. Loss applicable to shareholders was $122.4 million ($1.38 per share) compared with $44.3 million (76 cents). Revenue was $3.8 million. GM has started factory installation for 25 different models as company makes transition from retail-only distribution. XM also said it would introduce new generation of chips later this year.