Sirius Radio’s Loss Widens in Quarter
From the Associated Press
Sirius Satellite Radio Inc. reported a wider loss for the second quarter but raised its forecasts for subscribers and revenue.
Sirius lost $237.8 million, compared with $177.6 million a year earlier. The loss was equivalent to 17 cents a share, up from 13 cents a year earlier.
Revenue rose to $150.1 million from $52.2 million a year earlier.
New York-based Sirius said it added 600,460 net subscribers in the quarter, for a total of 4.7 million. Sirius says it is on track to have 6.3 million subscribers by the end of 2006, up slightly from its previous forecast of 6.2 million. It also expects slightly higher revenue of $615 million.