XM Satellite, the larger of the nation’s two satellite-radio broadcasters, posted a wider loss in Q3 due to higher programming and marketing costs even as revenue rose and subscribers more than doubled from a year ago.
The company had a net loss of $134 million compared with $120.1 million the year before. Revenue more than doubled to $153.1 million in the latest quarter, beating analysts’ target of $148.1 million.
More details in the earnings release here…
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