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XM Q2 Loss Narrows

It now has 9.7 million subscribers.

XM Satellite Radio posted a net loss of $120 million in the second quarter of the year. That compares with a net loss of $176 million in the same period a year ago.

The latest number was better than many Wall Street analysts predicted.

Revenue rose 15% to $318 million in the quarter.

The company added 322,000 subscribers in the second quarter, a 3% increase compared to Q1. The satcaster now has has 9,653,000 subscribers; its churn rate fell from 1.84% to 1.67% in the quarter.

The company called its second-quarter results preliminary and announced an offering of senior notes associated with its pending merger with Sirius.