EARNINGS ROUNDUP
Times Wire Reports
Sirius XM Radio Inc., the satellite radio broadcaster, reported a wider second-quarter loss on costs to pay down debt.
The net loss expanded to $157.4 million, or 4 cents a share, from $83.9 million, or 6 cents, a year ago, the New York company said. Sales more than doubled to $590.8 million.
Sirius XM had a $108-million expense in the quarter to retire debt and wrote down the value of a satellite launch by $24 million.
The company, created when the only two U.S. satellite radio companies merged a year ago, lost 185,999 net subscribers, finishing the quarter with 18.4 million customers.
Sirius XM fell 1 cent to 53 cents.
