XM Satellite Reports Loss of $131.9 Million
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XM Satellite Radio Inc.’s third-quarter loss widened as it spent more on programming.
The shares tumbled 10% on investor concern that fewer General Motors Corp. customers signed up after a free trial. The net loss widened to $131.9 million, or 60 cents a share, from $118 million, or 59 cents, a year earlier, Washington-based XM Satellite said. Revenue more than doubled to $153.1 million.
From Bloomberg News
* RealNetworks Inc., owner of the Rhapsody online music service, posted its third consecutive quarterly profit as revenue from subscriptions rose. Net income was $11.2 million, or 6 cents a share, contrasted with a net loss of $6.97 million, or 4 cents, a year earlier, the Seattle-based company said. Sales rose 20% to $82.2 million.
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