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322K New Net Subs for XM in 2Q
On Monday, XM Satellite Radio reported that it added 322,000 new net subscribers in the second quarter, for a total of 9.653 million subscribers, a 17 percent increase in customers since the end of second quarter 2007.
XM said total gross additions for the quarter were 1.081 million, including 857,000 OEM (original equipment manufacturer - or carmaker) gross additions. Retail gross additions amounted to 224,000, the company said.
XM said second quarter churn improved to 1.67 percent, compared to both second quarter 2007 churn of 1.84 percent and to first quarter 2008 churn of 1.77 percent. Subscription revenue for the second quarter is expected to be in the range of $283 million to $288 million, and an adjusted operating loss for the three-month period is expected to be in the range of $32 million to $38 million, the company said.
On Monday, XM Satellite Radio reported that it added 322,000 new net subscribers in the second quarter, for a total of 9.653 million subscribers, a 17 percent increase in customers since the end of second quarter 2007.
XM said total gross additions for the quarter were 1.081 million, including 857,000 OEM (original equipment manufacturer - or carmaker) gross additions. Retail gross additions amounted to 224,000, the company said.
XM said second quarter churn improved to 1.67 percent, compared to both second quarter 2007 churn of 1.84 percent and to first quarter 2008 churn of 1.77 percent. Subscription revenue for the second quarter is expected to be in the range of $283 million to $288 million, and an adjusted operating loss for the three-month period is expected to be in the range of $32 million to $38 million, the company said.
