Sirius reduced losses, outgrew XM in Q2

Sirius Satellite Radio says it ended Q2 with more than 7.1 million subscribers, growing faster than rival (and would-be merger partner) XM in both retail and OEM receiver sales. Sirius reported that it claimed 75% of after-market retail sales for the quarter and, a figure it said might surprise investors, also had 60% of OEM sales. Revenues jumped 51% from a year ago to 226.4 million – putting the company on track to have nearly one billion of revenues this year. Sirius cut its net loss by 44% to 134.1 million for the quarter. The adjusted net loss per share (adjusted for stock-based compensation) was eight cents, an improvement from 11 cents a year earlier.

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