Sirius XM Loss Narrows, Revenue Up

Sirius XM Loss Narrows, Revenue Up

Sirius XM Radio Inc., the satellite radio provider that was on the brink of bankruptcy nine months ago, on Thursday reported a much improved third quarter as it signed up more subscribers and paid down debt.

Sirius has been battered by the downturn in the auto industry as plunging car sales meant its satellite radios were being installed in fewer vehicles, hurting subscriptions. But the company has aggressively cut costs by integrating the operations of former rival XM Satellite Radio Holdings Inc., which it bought in July 2008.

Sirius, the home of radio shock jock Howard Stern, posted a quarterly loss of $149.2 million, or 4 cents per share – much smaller than last year’s loss of $4.9 billion, or $1.93 a share.

As Bubba says, SHOW ME THE EFFING MONEY!

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Permalink Posted in: howard stern, sirius Comments(2) November 7, 2009