XM Satellite Radio Continues It's Losing Streak

XM Satellite Radio Fails To Meet Projections (via BREITBART.COM) XM Radio Widens Loss; Losing Subscribers NEW YORK XM Satellite Radio Holdings Inc. reported a wider loss for its second quarter Thursday as it absorbed charges for restructuring its debt. The company again lowered its estimates for full-year subscriber counts. XM, which is based in Washington, D.C., lost $231.7 million or 87 cents per share in the three months ending June 30, versus a loss of $148.8 million or 70 cents per share in the comparable period a year ago. Revenue nearly doubled to $227.9 million from $125.4 million a year ago. The company said it now expects to end the year with a customer base between 7.7 million and 8.2 million, and that it would refine that range at the end of the third quarter. The company cited "current marketplace dynamics" and regulatory uncertainty regarding certain of its radio models for the change. The news is sure to disappoint investors, who punished XM's stock in May when it lowered its previous forecast for year-end subscribers to 8.5 million from 9 million, blaming problems with product availability and soft retail sales. In pre-market trading, XM's shares fell 50 cents or 4.8 percent to $9.86...(more) Looks like internet radio might be cutting into XM's profits. Wide Awakes Radio is free. Kind of hard for satellite radio to convince listeners to shell out a monthly subscription when great shows like The Passionate America Show (lol) are free. Business | Internet Radio | News | PAS | Satellite Radio | Talk Radio | The Passionate America Show | WAR | Wide Awakes Radio | XM | XM Satellite Radio