XM Satellite’s Loss Widens on Higher Costs

XM Satellite Radio Holdings Inc., the biggest satellite-radio service, said its fourth-quarter loss widened to $162.9 million on higher marketing costs to attract new subscribers.

The net loss of $1.12 a share compared with a loss of $155.9 million, or $1.76, a year earlier, the Washington-based company said. XM Satellite had about 66% more shares outstanding in the recent quarter. Sales more than tripled to $33.5 million.

XM Satellite added 430,580 subscribers and said it had more than 1.5 million. It expects to have more than 2.8 million subscribers by year-end.

Shares of XM Satellite fell $1.06 to $22.39 on Nasdaq.