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XM’s Loss Widens; Subscribers Ahead of Projections

XM's Loss Widens; Subscribers Ahead of Projections

XM Satellite Radio Holdings Inc. reported a loss for the first quarter of this year due to costs related to its launch, but the loss was less than anticipated by many analysts.
The satellite radio company reported a first quarter loss before interest, taxes, depreciation and amortization of $75.9 million, compared with a loss of $40 million last year.
For the three months of this year, XM reported consolidated revenue of $1.8 million, compared to no revenue in the year-earlier period. XM reported for Q1 a consolidated net loss available to common shareholders of $117.7 million, or $1.56 per share.
XM projections for the year are revenue of $20 million, subscriber acquisition costs of $130 per subscription, and an EBITDA loss of $275 million.
XM added 48,509 subscribers in the first quarter of this year, ending the quarter with just over 76,000 total subscribers, more than projected.