XM Satellite Radio said its first quarter net loss narrowed to $122.4 million from $151.4 million a year ago.
Revenue increased 27 percent to $264 million compared to $208 million.
XM’s net subscriber additions for the quarter – 285,000 – were down compared to 569,000 for the same period a year ago.
Subscriber acquisition costs were $65 per new customer, compared to $59 for Q1 2006.
XM ended the 2007 first quarter with about 7.9 million subscribers compared to 6.5 million subscribers a year ago. It projects ending the year with more than 9 million subscribers and recently surpassed 8 million.
As of March 31, the company had $319 million in cash compared to $218 million at the end of 2006.