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OEM Drives XM's 2Q Numbers
A day after XM released second quarter subscriber counts, the satellite radio company went ahead and detailed its financial numbers for the three-month period.
XM on Tuesday said revenue for the second quarter jumped to $318 million, a nearly 15 percent increase when compared to second quarter 2007 revenue of $277 million. The company's second quarter adjusted operating loss narrowed to $37 million, compared to a loss of $47 million for the same period last year.
On Monday, XM 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. On a net subscriber basis, the retail segment lost 38,000 customers and the OEM channel gained 360,000 subscribers.
The company's final OEM count stood at 4.1 million at the end of the quarter, while retail subscribers numbered 4.4 million at the close of the period.
A day after XM released second quarter subscriber counts, the satellite radio company went ahead and detailed its financial numbers for the three-month period.
XM on Tuesday said revenue for the second quarter jumped to $318 million, a nearly 15 percent increase when compared to second quarter 2007 revenue of $277 million. The company's second quarter adjusted operating loss narrowed to $37 million, compared to a loss of $47 million for the same period last year.
On Monday, XM 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. On a net subscriber basis, the retail segment lost 38,000 customers and the OEM channel gained 360,000 subscribers.
The company's final OEM count stood at 4.1 million at the end of the quarter, while retail subscribers numbered 4.4 million at the close of the period.
