XM Radio Ends ’03 With 1.36 Million Users
From Bloomberg News
XM Satellite Radio Holdings Inc. said it ended 2003 with 1.36 million subscribers.
The Washington-based satellite radio broadcaster expects to have more than 2.8 million subscribers by the end of this year, Chief Executive Hugh Panero said. The company earlier had forecast 2.5 million customers at the end of 2004.
XM’s smaller competitor, Sirius Satellite Radio Inc., said it added more than 100,000 subscribers in the December quarter to end 2003 with 261,061.
XM shares, which have closed at 52-week highs for three straight days, fell $1.87 to $27.10. Sirius dropped 19 cents to $3.17. Both trade on Nasdaq.